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The Rights-Egalitarian Solution for NTU Sharing Problems

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  • Carmen Herrero

    ()
    (Universidad de Alicante & Ivie)

  • Antonio Villar

    ()
    (Department of Economics, Universidad Pablo de Olavide & Ivie)

Abstract

The purpose of this paper is to extend the Rights Egalitarian solution (Herrero, Maschler & Villar, 1999) to the context of non-transferable utility sharing problems. Such an extension is not unique. Depending on the kind of properties we want to preserve we obtain two different generalizations. One is the "proportional solution", that corresponds to the Kalai-Smorodinsky solution for surplus sharing problems and the solution in Herrero (1998) for rationing problems. The other is the "Nash solution” that corresponds to the standard Nash bargaining solution for surplus sharing problems and the Nash rationing solution (Mariotti & Villar (2005) for the case of rationing problems.

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Bibliographic Info

Paper provided by Universidad Pablo de Olavide, Department of Economics in its series Working Papers with number 09.01.

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Length: 18 pages
Date of creation: Jan 2009
Date of revision:
Handle: RePEc:pab:wpaper:09.01

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Keywords: Sharing problems; rights egalitarian solution; NTU problems.;

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References

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  1. Sergiu Hart, 2003. "An Axiomatization of the Consistent Non-Transferable Utility Value," Discussion Paper Series dp337, The Center for the Study of Rationality, Hebrew University, Jerusalem.
  2. Chun, Y. & Thomson, W., 1989. "Bargaining Problems With Claims," RCER Working Papers 189, University of Rochester - Center for Economic Research (RCER).
  3. Thomson, William, 2003. "Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: a survey," Mathematical Social Sciences, Elsevier, vol. 45(3), pages 249-297, July.
  4. Kalai, Ehud & Smorodinsky, Meir, 1975. "Other Solutions to Nash's Bargaining Problem," Econometrica, Econometric Society, vol. 43(3), pages 513-18, May.
  5. Borm, P.E.M. & Keiding, H. & McLean, R.P. & Oortwijn, S. & Tijs, S.H., 1992. "The compromise value for NTU-games," Discussion Paper 1992-18, Tilburg University, Center for Economic Research.
  6. Carmen Herrero Blanco, 1993. "Endogenous Reference Points And The Adjusted Proportional Solution For Bargaining Problems With Claims," Working Papers. Serie AD 1993-13, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  7. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
  8. Marco Mariotti & Antonio Villar, 2005. "The Nash rationing problem," International Journal of Game Theory, Springer, vol. 33(3), pages 367-377, 09.
  9. Maschler, M & Owen, G, 1989. "The Consistent Shapley Value for Hyperplane Games," International Journal of Game Theory, Springer, vol. 18(4), pages 389-407.
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