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Characterizations of bargaining solutions in production economies with unequal skills

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  • Yoshihara, Naoki

Abstract

In production economies with unequal skills, this paper characterizes bargaining solutions by using axioms on allocation rules rather than axioms on classical bargaining solutions. Instead of Consistency of Resource Allocation across Dimension (CONRAD)[Roemer (1986, 1988)], which is essentially equivalent to the axiom of Welrfarism [Roemer (1988)], we introduce a weaker axiom, Consistency w.r.t. Technological Innovations (CTI), so that the non-welfaristic characterizations of bargaining solutions in the production economies are provided. By the characterizations, we can classify the three bargaining solutions (the Nash, the Kalai-Smorodinsky, and the Egalitarian solutions)from the viewpoint of responsibility and compensation discussed by Dwokin (1981, 1981a).

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 108 (2003)
Issue (Month): 2 (February)
Pages: 256-285

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Handle: RePEc:eee:jetheo:v:108:y:2003:i:2:p:256-285

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Web page: http://www.elsevier.com/locate/inca/622869

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  1. Roemer, John E., 1988. "Axiomatic bargaining theory on economic environments," Journal of Economic Theory, Elsevier, vol. 45(1), pages 1-31, June.
  2. Howe, Roger, 1987. "Sections and extensions of concave functions," Journal of Mathematical Economics, Elsevier, vol. 16(1), pages 53-64, February.
  3. Ehud Kalai, 1977. "Proportional Solutions to Bargaining Situations: Interpersonal Utility Comparisons," Discussion Papers 179, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  4. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
  5. Moulin, Herve, 1990. "Joint Ownership of a Convex Technology: Comparison of Three Solutions," Review of Economic Studies, Wiley Blackwell, vol. 57(3), pages 439-52, July.
  6. Kalai, Ehud & Smorodinsky, Meir, 1975. "Other Solutions to Nash's Bargaining Problem," Econometrica, Econometric Society, vol. 43(3), pages 513-18, May.
  7. John P. Conley & Simon Wilkie & Richard P. McLean, 1996. "Reference functions and possibility theorems for cardinal social choice problems," Social Choice and Welfare, Springer, vol. 14(1), pages 65-78.
  8. Moulin, Herve & Roemer, John, 1989. "Public Ownership of the External World and Private Ownership of Self," Journal of Political Economy, University of Chicago Press, vol. 97(2), pages 347-67, April.
  9. Chen, Mark A. & Maskin, Eric S., 1999. "Bargaining, Production, and Monotonicity in Economic Environments," Journal of Economic Theory, Elsevier, vol. 89(1), pages 140-147, November.
  10. Diamantaras, Dimitrios & Wilkie, Simon, 1996. "On the Set of Pareto Efficient Allocations in Economies with Public Goods," Economic Theory, Springer, vol. 7(2), pages 371-79, February.
  11. Thomson, William, 1980. "Two characterizations of the Raiffa solution," Economics Letters, Elsevier, vol. 6(3), pages 225-231.
  12. Roemer, John E, 1986. "Equality of Resources Implies Equality of Welfare," The Quarterly Journal of Economics, MIT Press, vol. 101(4), pages 751-84, November.
  13. Gines, M. & Marhuenda, F., 2000. "Welfarism in Economic Domains," Journal of Economic Theory, Elsevier, vol. 93(2), pages 191-204, August.
  14. Fleurbaey, Marc & Maniquet, Francois, 1996. "Fair allocation with unequal production skills: The No Envy approach to compensation," Mathematical Social Sciences, Elsevier, vol. 32(1), pages 71-93, August.
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Cited by:
  1. Yoshihara, Naoki, 2010. "Class and exploitation in general convex cone economies," Journal of Economic Behavior & Organization, Elsevier, vol. 75(2), pages 281-296, August.
  2. Lombardi, Michele & Yoshihara, Naoki, 2008. "Alternative Characterizations of the Proportional Solution for Nonconvex Bargaining Problems with Claims," Discussion Paper Series a501, Institute of Economic Research, Hitotsubashi University.
  3. Veneziani, Roberto & Yoshihara, Naoki, 2011. "Exploitation and Profits: A General Axiomatic Approach in Convex Economies with Heterogeneous Agents," CCES Discussion Paper Series 44, Center for Research on Contemporary Economic Systems, Graduate School of Economics, Hitotsubashi University.
  4. Xu, Yongsheng & Yoshihara, Naoki, 2006. "Alternative characterizations of three bargaining solutions for nonconvex problems," Games and Economic Behavior, Elsevier, vol. 57(1), pages 86-92, October.

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