Bargaining with an Agenda
AbstractGradual bargaining is represented by an agenda: a family of increasing sets of joint utilities, parameterized by time. A solution for gradual bargaining specifies an agreement at each time. We axiomatize an ordinal solution, i.e., one that is covariant with order-preserving transformations of utility. It can be viewed as the limit of a step-by-step bargaining in which the agreement of the last negotiation becomes the disagreement point for the next. The stepwise agreements may follow the Nash solution, the Kalai-Smorodinsky solution or many others.
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Bibliographic InfoPaper provided by The Center for the Study of Rationality, Hebrew University, Jerusalem in its series Discussion Paper Series with number dp315.
Length: 19 pages
Date of creation: Mar 2002
Date of revision:
Publication status: Published in Games and Economic Behavior, 2004, vol. 48, pp. 139-153.
Other versions of this item:
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
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