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A characterization of the asymmetric Nash solution

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  • Shiran Rachmilevitch

Abstract

The asymmetric Nash bargaining solution is characterized on the basis of independence of irrelevant alternatives, independence of equivalent utility representations, and a new axiom—moderate collective rationality. The latter is logically weaker than Roth’s (Math Oper Res 2:64–65, 1977 ) strong individual rationality and logically stronger than Anbarci and Sun’s (Soc Choice Welf 37:425–429, 2011 ) weakest collective rationality. Copyright Springer-Verlag Berlin Heidelberg 2015

Suggested Citation

  • Shiran Rachmilevitch, 2015. "A characterization of the asymmetric Nash solution," Review of Economic Design, Springer;Society for Economic Design, vol. 19(2), pages 167-171, June.
    • Handle: RePEc:spr:reecde:v:19:y:2015:i:2:p:167-171
    DOI: 10.1007/s10058-015-0167-8
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    References listed on IDEAS

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    1. Alvin E. Roth, 1977. "Individual Rationality and Nash's Solution to the Bargaining Problem," Mathematics of Operations Research, INFORMS, vol. 2(1), pages 64-65, February.
    2. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
    3. Nejat Anbarci & Ching-jen Sun, 2011. "Weakest collective rationality and the Nash bargaining solution," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 37(3), pages 425-429, September.
    4. Anbarci, Nejat & Sun, Ching-jen, 2013. "Asymmetric Nash bargaining solutions: A simple Nash program," Economics Letters, Elsevier, vol. 120(2), pages 211-214.
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    Cited by:

    1. William Thomson, 2022. "On the axiomatic theory of bargaining: a survey of recent results," Review of Economic Design, Springer;Society for Economic Design, vol. 26(4), pages 491-542, December.

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    More about this item

    Keywords

    Axioms; Bargaining; Asymmetric Nash solution; C78; D74;
    All these keywords.

    JEL classification:

    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances; Revolutions

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