Younghwan In () (National University of Singapore)
Abstract
We compare bargaining solutions in terms of the relevance of alternatives. We show that most well-known bargaining solutions do not use all the alternatives, but there are numerous bargaining solutions that do. We introduce a new class of bargaining solutions called ``average alternative solutions'', characterize them, and show that the Nash solution and the Kalai-Smorodinsky solution are limits of average alternative solutions. We also provide alternative characterizations for the Nash solution and the Kalai-Smorodinsky solution.
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Publisher Info
Paper provided by National University of Singapore, Department of Economics in its series Departmental Working Papers with number
wp0214.
Find related papers by JEL classification: C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances
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