infonet-economy

I give necessary and sufficient conditions on the payoff set that guarantee uniqueness of the equilibrium in the Rubinstein bargaining model. The conditions encompass a class of non-convex or disconnected payoff sets with discontinuous Pareto frontiers. Roughly speaking, the equilibrium is unique if the objective function of the corresponding Nash-bargaining game has a unique maximum. I extend the analysis to games where the time between offers is not constant.