Weakest collective rationality and the Nash bargaining solution
AbstractWe propose a new axiom, Weakest Collective Rationality (WCR) which is weaker than both Weak Pareto Optimality (WPO) in Nash (1950)âs original characterization and Strong Individual Rationality (SIR) in Roth (1977)âs characterization of the Nash bargaining solution. We then characterize the Nash solution by Symmetry (SYM), Scale Invariance (SI), Independence of Irrelevant Alternatives (IIA) and our Weakest Collective Rationality (WCR) axiom.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Springer in its journal Social Choice and Welfare.
Volume (Year): 37 (2011)
Issue (Month): 3 (September)
Contact details of provider:
Web page: http://link.springer.de/link/service/journals/00355/index.htm
Other versions of this item:
- Nejat Anbarci & Ching-jen Sun, 2009. "Weakest Collective Rationality and the Nash Bargaining Solution," Economics Series 2009_16, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
- 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
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F Baum).
If references are entirely missing, you can add them using this form.