A Concessions-Based Mechanism for Meta-Bargaining Problems
AbstractIn 1950, Nash's seminal paper introduced the axiomatic approach to the analysis of bargaining situations. Since then, many bargaining solutions have appeared and been axiomatically analyzed. The fact that agents, when face a bargaining problem, can come up with different solution concepts (that is, di§erent notions of fairness and equity) was first introduced by van Damme (1986) by means of the meta-bargaining model. In this paper we present and axiomatically analyze a mechanism for solving meta-bargaining problems, which we call Unanimous-Concession. As an example, we show that the Nash solution is the result of the meta-bargaining process we define, when agents have dual egalitarian criteria. Finally, we compare, from an axiomatic and descriptive point of view, our proposal with other meta-bargaining mechanisms.
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Bibliographic InfoPaper provided by Universidad de Alicante, Departamento de Métodos Cuantitativos y Teoría Económica in its series QM&ET Working Papers with number 12-13.
Length: 20 pages
Date of creation: 24 Jul 2012
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More information through EDIRC
bargaining problem; mechanism; meta-bargaining; axiomatic approach;
Find related papers by JEL classification:
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-08-23 (All new papers)
- NEP-GTH-2012-08-23 (Game Theory)
- NEP-MIC-2012-08-23 (Microeconomics)
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