This paper provides a decentralized dynamic foundation of the Zeuthen-Nash bargaining solution, which selects an outcome that maximizes the product of the individual gains over the disagreement outcome. We investigate a canonical random matching model for a society in which two agents are drawn from a large population and randomly matched to a partnership, if they successfully find an agreeable payoff vector. In each period, the two agents choose to maintain or terminate the partnership, which is subject to a small exogenous probability of break down. We show that as the discount factor converges to 1, and the probability of exogenous break down vanishes, the Zeuthen- Nash bargaining solution emerges as a unique undominated equilibrium outcome. Each agent in a society, without any centralized information processing institution, behaves as if he has agreed upon the Zeuthen-Nash bargaining solution, whenever he is matched to another agent.
松井氏の発表の参考文献:
In-koo Cho and Akihiko Matsui, "A Social Foundation of Zeuthen-Nash Bargaining Solution."
http://www.vcasi.org/node/701
竹澤氏の討論の参考文献:
Masanori Takezawa, "Developing a New Framework of Adaptive Concession-making Strategies: An Approach to Behavioral Game Theory from Psychology."
http://lynx.let.hokudai.ac.jp/COE21/workingpaper/index.html
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