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The time-preference Nash solution

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We give an axiomatic characterization of the Time-Preference Nash Solution, a bargaining solution that is applied when the underlying preferences are defined over streams of physical outcomes. This bargaining solution is similar to the ordinal Nash solution introduced by Rubinstein, Safra, and Thomson (1992), but it gives a different prediction when the set of physical outcomes is a set of lotteries.

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File URL: http://www.nirdagan.com/research/200101/full.pdf
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Bibliographic Info

Paper provided by Nir Dagan in its series Economic theory and game theory with number 019.

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Length: 20 pages
Date of creation: 27 Mar 2001
Date of revision:
Handle: RePEc:nid:ndagan:019

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Postal: Nir Dagan, Dept. of Economics and Management, Tel-Hai Academic College, Upper Galilee, Israel.
Web page: http://www.nirdagan.com/research/

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  1. Hanany, Eran & Safra, Zvi, 2000. "Existence and Uniqueness of Ordinal Nash Outcomes," Journal of Economic Theory, Elsevier, vol. 90(2), pages 254-276, February.
  2. Eyal Winter & Oscar Volij & Nir Dagan, 2002. "A characterization of the Nash bargaining solution," Social Choice and Welfare, Springer, vol. 19(4), pages 811-823.
  3. Safra Zvi & Zilcha Itzhak, 1993. "Bargaining Solutions without the Expected Utility Hypothesis," Games and Economic Behavior, Elsevier, vol. 5(2), pages 288-306, April.
  4. Damme, E.E.C. van & Peters, H., 1991. "Characterizing the Nash and Raiffa bargaining solutions by disagreement point axioms," Open Access publications from Tilburg University urn:nbn:nl:ui:12-154419, Tilburg University.
  5. Oscar Volij, 1999. "On Risk Aversion and Bargaining Outcomes," Economic theory and game theory 010, Oscar Volij.
  6. Yaari, Menahem E, 1987. "The Dual Theory of Choice under Risk," Econometrica, Econometric Society, vol. 55(1), pages 95-115, January.
  7. Burgos, Albert & Grant, Simon & Kajii, Atsushi, 2002. "Bargaining and Boldness," Games and Economic Behavior, Elsevier, vol. 38(1), pages 28-51, January.
  8. Rubinstein, Ariel & Safra, Zvi & Thomson, William, 1992. "On the Interpretation of the Nash Bargaining Solution and Its Extension to Non-expected Utility Preferences," Econometrica, Econometric Society, vol. 60(5), pages 1171-86, September.
  9. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
  10. Grant, Simon & Kajii, Atsushi, 1995. "A Cardinal Characterization of the Rubinstein-Safra-Thomson Axiomatic Bargaining Theory," Econometrica, Econometric Society, vol. 63(5), pages 1241-49, September.
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Cited by:
  1. Volij, Oscar & Winter, Eyal, 2002. "On Risk Aversion and Bargaining Outcomes," Staff General Research Papers 10130, Iowa State University, Department of Economics.

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