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Stagnation proofness and individually monotonic bargaining solutions

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  • Jaume García-Segarra

    ()
    (LEE & Department of Economics, Universitat Jaume I, Castellón, Spain)

  • Miguel Ginés-Vilar

    ()
    (LEE & Department of Economics, Universitat Jaume I, Castellón, Spain)

Abstract

The aim of this paper is to generalize the results of Peter and Tijs [10] and [9]. We propose a characterization that holds both for n-agent problems and for a larger class of problems. The axioms used in our characterization are weaker because they are implied by the characterization in the aforementioned references. We analyze a phenomenon known as stagnation effect, which takes place when a bargaining solution remains unchanged facing all possible expansions of the bargaining set not affecting the utopia point. Our main result relies on a very weak axiom, stagnation proofness. Whenever a bargaining solution satisfies this axiom, such solution does not suffer from the stagnation effect.

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Bibliographic Info

Paper provided by Economics Department, Universitat Jaume I, Castellón (Spain) in its series Working Papers with number 2013/04.

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Length: 10 pages
Date of creation: 2013
Date of revision:
Handle: RePEc:jau:wpaper:2013/04

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Keywords: Bargaining; axiomatization; n-agent problem; monotone paths;

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  1. Peters, H.J.M. & Tijs, S.H., 1985. "Characterization of all individually monotonic bargaining solutions," Open Access publications from Tilburg University urn:nbn:nl:ui:12-154267, Tilburg University.
  2. Imai, Haruo, 1983. "Individual Monotonicity and Lexicographic Maxmin Solution," Econometrica, Econometric Society, vol. 51(2), pages 389-401, March.
  3. Driesen, Bram W., 2012. "The Asymmetric Leximin Solution," Working Papers 0523, University of Heidelberg, Department of Economics.
  4. Thomson, W., 1989. "Cooperative Models Of Bargaining," RCER Working Papers 177, University of Rochester - Center for Economic Research (RCER).
  5. Kalai, Ehud, 1977. "Proportional Solutions to Bargaining Situations: Interpersonal Utility Comparisons," Econometrica, Econometric Society, vol. 45(7), pages 1623-30, October.
  6. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
  7. Chun, Youngsub, 1988. "The equal-loss principle for bargaining problems," Economics Letters, Elsevier, vol. 26(2), pages 103-106.
  8. Dubra, Juan, 2001. "An asymmetric Kalai-Smorodinsky solution," Economics Letters, Elsevier, vol. 73(2), pages 131-136, November.
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