Published August 18, 2017
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Preferences Over Solution to the Bargaining Problem
- Creators
- Border, Kim C.
- Segal, Uzi
Abstract
There are several solutions to the Nash bargaining problem in the literature. Since various authors have expressed preferences for one solution over another, we find it useful to study preferences over solutions in their own right. We identify two sets of appealing axioms on such preferences that lead to unanimity in the choice of solution. Thus bargainers may be able to reach agreement on which solution to employ. Under the first set of axioms, the Nash solution is preferred to any other solution, while under the second set, a new solution, which we call the weighted linear solution, is best.
Additional Information
We gratefully acknowledge stimulating suggestions from Larry Epstein, Ehud Kalai, Edi Kami, Joe Ostroy, Ariel Rubinstein, Zvi Safra, Lloyd Shapley, Joel Sobel, Bill Weiss, Bill Zame, and seminar participants at Caltech, Johns Hopkins, and Northwestern. We also thank SSHRC for financial support. Published as Border, Kim C., and Uzi Segal. "Preferences over solutions to the bargaining problem." Econometrica: Journal of the Econometric Society (1997): 1-18.Attached Files
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Additional details
- Eprint ID
- 80625
- Resolver ID
- CaltechAUTHORS:20170818-141404867
- Social Sciences and Humanities Research Council (SSHRC)
- Created
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2017-08-18Created from EPrint's datestamp field
- Updated
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2019-10-03Created from EPrint's last_modified field
- Caltech groups
- Social Science Working Papers
- Series Name
- Social Science Working Paper
- Series Volume or Issue Number
- 923