Perfect equilibria of a model of n-person noncooperative bargaining

We study the set of subgame perfect equilibria associated with the n-person noncooperative bargaining mechanism proposed by Hart and Mas-Colell (1992). Our results pertain to transferable utility games. The set of perfect equilibria depends on the parameter representing the "continuation probability," ρ{variant}. For general TU games, we characterize the set of payoffs from perfect equilibria for (a) small values of ρ{variant} and (b) large values of ρ{variant}. For symmetric games a complete characterization for all values of ρ{variant} is provided.