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Bargaining Between Automata

  • Ken Binmore
  • Michele Piccione
  • Larry Samuelson
Conference paper
Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 456)

Abstract

If the players in an alternating-offers bargaining game are averse to delays in reaching an agreement, then a unique subgame-perfect equilibrium exists. But the rationality requirements of the subgame-perfect equilibrium concept are too severe for this celebrated result of Ariel Rubinstein [21] to be relevant to the design of automated agents capable of negotiating on behalf of their clients. This paper therefore studies the play of bargaining games with alternating offers by finite automata.

Keywords

Nash Equilibrium Finite Automaton Repeated Game Bargaining Game Subgame Perfection 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 1997

Authors and Affiliations

  • Ken Binmore
    • 1
  • Michele Piccione
    • 2
  • Larry Samuelson
    • 3
  1. 1.Economics DepartmentUniversity CollegeLondonUK
  2. 2.Economics DepartmentUniversity of British ColumbiaVancouverCanada
  3. 3.Economics DepartmentUniversity of WisconsinMadisonUSA

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