Economic and Game Theory
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"Inside every small problem is a large problem struggling to get out." | ||||||
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The players either reach an *agreement* in the set $A$ or fail to reach an agreement in which *disagreement* event $D$ occurs. Each player has preference ordering $\succeq_i$ over the set $A \cup \{D\}$ The objects $N,A,D$ and $\succeq_i$ define a bargaining situation. **My question** is very basic. How does the set $A$ look like. What does this typical *disagreement event D* look like? Suppose each player has to choose between three options $X,Y,Z$ and let player $1$'s preference be $X \succeq Y \succeq Z$ and that of player $2$ be $Y \succeq X \succeq Z$. So what will be set $A$? [Manage messages]
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