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Two support results for the Kalai-Smorodinsky solution in small object division markets

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  • Claus-Jochen Haake

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    (Institute of Mathematical Economics, Bielefeld University)

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    Abstract

    We discuss two support results for the Kalai-Smorodinsky bargaining solution in the context of an object division problem involving two agents. Allocations of objects resulting from strategic interaction are obtained as a demand vector in a specific market. For the first support result games in strategic form are derived that exhibit a unique Nash equilibrium. The second result uses subgame perfect equilibria of a game in extensive form. Although there may be multiple equilibria, coordination problems can be removed.

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    File URL: http://www.imw.uni-bielefeld.de/papers/files/imw-wp-366.pdf
    File Function: Second version, 2007
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    Bibliographic Info

    Paper provided by Bielefeld University, Center for Mathematical Economics in its series Working Papers with number 366.

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    Length: 13 pages
    Date of creation: Jun 2005
    Date of revision:
    Handle: RePEc:bie:wpaper:366

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    Postal: Postfach 10 01 31, 33501 Bielefeld
    Phone: +49(0)521-106-4907
    Web page: http://www.imw.uni-bielefeld.de/
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    Related research

    Keywords: support result; object division; market; Kalai-Smorodinsky solution;

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    1. Dagan, Nir & Serrano, Roberto, 1998. "Invariance and randomness in the Nash program for coalitional games," Economics Letters, Elsevier, vol. 58(1), pages 43-49, January.
    2. Roberto Serrano, 2005. "Fifty years of the Nash program, 1953-2003," Investigaciones Economicas, FundaciĆ³n SEPI, vol. 29(2), pages 219-258, May.
    3. Claus-Jochen Haake & Walter Trockel, 2007. "On Maskin monotonicity of solution based social choice rules," Working Papers 393, Bielefeld University, Center for Mathematical Economics.
    4. Moulin, H., 1984. "Implementing the Kalai-Smorodinsky bargaining solution," Journal of Economic Theory, Elsevier, vol. 33(1), pages 32-45, June.
    5. Eiichi Miyagawa, 2002. "Subgame-perfect implementation of bargaining solutions," Discussion Papers 0102-16, Columbia University, Department of Economics.
    6. Walter Trockel, 2000. "Implementations of the Nash solution based on its Walrasian characterization," Economic Theory, Springer, vol. 16(2), pages 277-294.
    7. Serrano, Roberto, 1997. "A comment on the Nash program and the theory of implementation," Economics Letters, Elsevier, vol. 55(2), pages 203-208, August.
    8. Kalai, Ehud & Smorodinsky, Meir, 1975. "Other Solutions to Nash's Bargaining Problem," Econometrica, Econometric Society, vol. 43(3), pages 513-18, May.
    9. Rosenmueller,J. & Trockel,W., 2001. "Game theory," Working Papers 321, Bielefeld University, Center for Mathematical Economics.
    10. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
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