Multi-Utilitarian Bargaining Solutions
AbstractThis paper introduces and analyzes the class of multi-utilitarian solutions for cooperative bargaining problems. We show that generalized Gini solutions and inequality averse Choquet bargaining solutions are particular cases of this new multi-valued solution concept and provide a complete characterization of inequality averse multi-utilitarian solutions in which an invariance property consisting of a weakening of both the linear invariance axiom in Blackorby et al. (1994) and the restricted invariance axiom in Ok and Zhou (2000). Moreover, by relaxing the assumptions involved in the characterization, the class is extended to include equality averse multi-utilitarian solutions which are also studied in the paper.
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Bibliographic InfoPaper provided by Universidad Pablo de Olavide, Department of Economics in its series Working Papers with number 07.13.
Length: 23 pages
Date of creation: Jul 2007
Date of revision:
Axiomatic bargaining theory; multi-valued bargaining solutions; generalized Gini solutions; inequality adverse Choquet solutions.;
Find related papers by JEL classification:
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-07-07 (All new papers)
- NEP-GTH-2007-07-07 (Game Theory)
- NEP-UPT-2007-07-07 (Utility Models & Prospect Theory)
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.:
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96-39, C.V. Starr Center for Applied Economics, New York University.
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