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Maximal symmetry and the Nash solution

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Author Info
Marco Mariotti () (Department of Economics, University of Exeter, Streatham Court, Rennes Drive, Exeter EX4 4PU, UK)

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Abstract

The Nash Bargaining Solution is characterised by using the new axiom of Maximal Symmetry in place of Nash's Independence of Irrelevant Alternatives and Symmetry. This axiom expresses the idea that a fair arbitrator should treat symmetric alternatives in the same way, subject to the feasibility constraint. An advantage of the proposed characterisations is that they are valid on a wide set of domains, in particular domains including, or consisting of, non-convex problems.

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Publisher Info
Article provided by Springer in its journal Social Choice and Welfare.

Volume (Year): 17 (2000)
Issue (Month): 1 ()
Pages: 45-53
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Handle: RePEc:spr:sochwe:v:17:y:2000:i:1:p:45-53

Note: Received: 16 March 1998/Accepted: 13 October 1998
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  1. Federico Valenciano & Annick Laruelle, 2005. "Bargaining In Committees Of Representatives: The Optimal Voting Rule," Working Papers. Serie AD 2005-24, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
  2. Nir Dagan & Oscar Volij & Eyal Winter, 2000. "A Characterization of the Nash Bargaining Solution," Economic theory and game theory 018, Nir Dagan, revised 21 Sep 2000. [Downloadable!]
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