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Proportional Concessions and the Leximin Solution

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  • Bram Driesen

    ()
    (University of Heidelberg)

Abstract

In this note we introduce a new axiom for bargaining solutions, named Proportional Concession Monotonicity (PCM), which imposes that no player benefits when all players collectively make proportional concessions with respect to their respective utopia values. We reconsider the leximin solution (Imai, 1983), and obtain an alternative characterization on the basis of PCM.

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File URL: http://uni-obuda.hu/users/vecseya/RePEc/pkk/wpaper/1106.pdf
File Function: Manuscript, 2011
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Bibliographic Info

Paper provided by Óbuda University, Keleti Faculty of Business and Management in its series Working Paper Series with number 1106.

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Length: 9 pages
Date of creation: 2011
Date of revision:
Handle: RePEc:pkk:wpaper:1106.rdf

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  1. Imai, Haruo, 1983. "Individual Monotonicity and Lexicographic Maxmin Solution," Econometrica, Econometric Society, vol. 51(2), pages 389-401, March.
  2. Thomson,William & Lensberg,Terje, 1989. "Axiomatic Theory of Bargaining with a Variable Number of Agents," Cambridge Books, Cambridge University Press, number 9780521343831, December.
  3. Mark A. Chen, 2000. "Individual monotonicity and the leximin solution," Economic Theory, Springer, vol. 15(2), pages 353-365.
  4. Driesen, Bram & Perea, Andrés & Peters, Hans, 2011. "The Kalai-Smorodinsky bargaining solution with loss aversion," Mathematical Social Sciences, Elsevier, vol. 61(1), pages 58-64, January.
  5. Roth, Alvin E., 1977. "Independence of irrelevant alternatives, and solutions to Nash's bargaining problem," Journal of Economic Theory, Elsevier, vol. 16(2), pages 247-251, December.
  6. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
  7. Chun, Youngsub & Peters, Hans, 1991. "The lexicographic equal-loss solution," Mathematical Social Sciences, Elsevier, vol. 22(2), pages 151-161, October.
  8. Chang, Chih & Liang, Meng-Yu, 1998. "A characterization of the lexicographic Kalai-Smorodinsky solution for n=3," Mathematical Social Sciences, Elsevier, vol. 35(3), pages 307-319, May.
  9. Nejat Anbarci, 1995. "Reference Functions and Balanced Concessions in Bargaining," Canadian Journal of Economics, Canadian Economics Association, vol. 28(3), pages 675-82, August.
  10. Kalai, Ehud & Smorodinsky, Meir, 1975. "Other Solutions to Nash's Bargaining Problem," Econometrica, Econometric Society, vol. 43(3), pages 513-18, May.
  11. Kalai, Ehud, 1977. "Proportional Solutions to Bargaining Situations: Interpersonal Utility Comparisons," Econometrica, Econometric Society, vol. 45(7), pages 1623-30, October.
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Cited by:
  1. Driesen, Bram W., 2012. "The Asymmetric Leximin Solution," Working Papers 0523, University of Heidelberg, Department of Economics.

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