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Relative Disagreement-Point Monotonicity of Bargaining Solutions

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Author Info
Nejat Anbarci () (Department of Economics, Florida International University)

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Abstract

Prominent bargaining solutions are disagreement-point monotonic. These solutions’ disagreement-point monotonicity ranking, on the other hand, is impossible to establish. In a large class of bargaining problems, however, a ranking of the relative disagreement-point monotonicity of these prominent bargaining solutions can be obtained. Using the ‘Constant Elasticity of Substitution’ class of bargaining problems, and regardless of the concavity of the Pareto frontier and of the increase in the disagreement point, we find that the Egalitarian solution is most monotonic with respect to changes in disagreement payoffs, followed by the Nash solution. The Equal Sacrifice solution turns out to be the least monotonic, followed by the Kalai/Smorodinsky solution.

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File URL: http://www.fiu.edu/orgs/economics/wp2003/03-02.pdf
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File Function: First version, 2003
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Publisher Info
Paper provided by Florida International University, Department of Economics in its series Working Papers with number 0302.

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Length: 9 pages
Date of creation: Dec 2003
Date of revision:
Handle: RePEc:fiu:wpaper:0302

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Related research
Keywords: The Nash solution; the Kalai/Smorodinsky solution; the Egalitarian solution; the Equal Sacrifice solution; Relative Disagreement-Point Monotonicity.;

Find related papers by JEL classification:
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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References listed on IDEAS
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.:
  1. Chun, Youngsub, 1988. "The equal-loss principle for bargaining problems," Economics Letters, Elsevier, vol. 26(2), pages 103-106. [Downloadable!] (restricted)
  2. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April. [Downloadable!] (restricted)
  3. Aumann, Robert J. & Maschler, Michael, 1985. "Game theoretic analysis of a bankruptcy problem from the Talmud," Journal of Economic Theory, Elsevier, vol. 36(2), pages 195-213, August. [Downloadable!] (restricted)
  4. Roth, Alvin E, 1979. "Proportional Solutions to the Bargaining Problem," Econometrica, Econometric Society, vol. 47(3), pages 775-77, May. [Downloadable!] (restricted)
  5. Kalai, Ehud & Smorodinsky, Meir, 1975. "Other Solutions to Nash's Bargaining Problem," Econometrica, Econometric Society, vol. 43(3), pages 513-18, May. [Downloadable!] (restricted)
  6. Thomson, William, 1987. "Monotonicity of bargaining solutions with respect to the disagreement point," Journal of Economic Theory, Elsevier, vol. 42(1), pages 50-58, June. [Downloadable!] (restricted)
  7. McElroy, Marjorie B & Horney, Mary Jean, 1981. "Nash-Bargained Household Decisions: Toward a Generalization of the Theory of Demand," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 22(2), pages 333-49, June. [Downloadable!] (restricted)
  8. 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. [Downloadable!]
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  9. Lundberg, S.J. & Pollak, R.A. & Wales, T.J., 1994. "Do Husbands and Wives Pool Their Resources? Evidence from U.K. Child Benefit," Discussion Papers in Economics at the University of Washington 94-6, Department of Economics at the University of Washington.
    Other versions:
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