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By Sandeep Baliga and Roberto Serrano


We study a multilateral negotiation procedure that allows for "partial agreements " in which responders are told only their own shares. Applications of our model include negotiations under "joint and several liability. " Unlike previous models of multilateral bargaining with exit, we find that there are multiple equilibrium outcomes. We thank Jerry Green, Amy Salsbury, Kathy Spier, Mike Wheeler and Robert Wilson for their comments. Serrano als

Year: 2011
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