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Erscheinungsjahr: 
2016
Quellenangabe: 
[Journal:] Games [ISSN:] 2073-4336 [Volume:] 7 [Issue:] 2 [Publisher:] MDPI [Place:] Basel [Year:] 2016 [Pages:] 1-17
Verlag: 
MDPI, Basel
Zusammenfassung: 
We consider a multilateral bargaining game in which the agents can be classified into two groups according to their instantaneous preferences. In one of these groups there is one agent with a different discount factor. We analyze how this time-preference heterogeneity may generate multiplicity of equilibria. When such an agent is sufficiently more patient than the rest, there is an equilibrium in which her group-mates make the same proposal as the members of the other group. Thus, in heterogeneous groups the presence of more patient members may reduce the utility of its members.
Schlagwörter: 
multilateral bargaining
one-dimensional
multiple equilibria
time preference
JEL: 
C78
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