Bargaining Theory for Games with Transferable Value
Norman James Schofield · CaltechAUTHORS (California Institute of Technology) · 1984
This paper presents an existence proof of a bargaining equilibrium set B*, in the case of games with transferable value, by making use of the Knaster Kuratowski Mazurkiewicz (KKM) Theorem. As a corollary proof of existence of the usual bargaining set B1 is obtained. Whereas previous proofs of B1 existence have made use of fixed point arguments, use of the KKM theorem provides an insight into possible extensions of the existence proof to the nontransferable value case.