Kalai-Smorodinsky Bargaining Solution Equilibria
AbstractMulticriteria games describe strategic interactions in which players, having more than one criterion to take into account, don't have an a-priori opinion on the rel- ative importance of all these criteria. Roemer (2005) introduces an organizational interpretation of the concept of equilibrium: each player can be viewed as running a bargaining game among criteria. In this paper, we analyze the bargaining problem within each player by considering the Kalai-Smorodinsky bargaining solution. We provide existence results for the so called Kalai-Smorodinsky bargaining solution equilibria for a general class of disagreement points which properly includes the one considered in Roemer (2005). Moreover we look at the refinement power of this equilibrium concept and show that it is an effective selection device even when combined with classical refinement concepts based on stability with respect to perturbations such as the the extension to multicriteria games of the Selten's (1975) trembling hand perfect equilibrium concept.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy in its series CSEF Working Papers with number 235.
Date of creation: 30 Jul 2009
Date of revision:
Publication status: published in Journal of Optimization, Theory and Applications, 2010, Vol. 145, 429449
This paper has been announced in the following NEP Reports:
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.:
- Peter Borm & Freek van Megen & Stef Tijs, 1999.
"A perfectness concept for multicriteria games,"
Springer, vol. 49(3), pages 401-412, July.
- Megen, F. van & Borm, P.E.M. & Tijs, S.H., 1995. "A perfectness concept for multicriteria games," Discussion Paper 1995-28, Tilburg University, Center for Economic Research.
- Borm, P.E.M. & Megen, F.J.C. van & Tijs, S.H., 1999. "A perfectness concept for multicriteria games," Open Access publications from Tilburg University urn:nbn:nl:ui:12-80679, Tilburg University.
- Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
- Giuseppe De Marco & Jacqueline Morgan, 2007. "A Refinement Concept For Equilibria In Multicriteria Games Via Stable Scalarizations," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 9(02), pages 169-181.
- Loridan, P. & Morgan, J. & Raucci, R., 1997. "Convergence of Minimal and Approximate Minimal Elements of Sets in Partially Ordered Vector Spaces," Papiers d'Economie MathÃÂ©matique et Applications 97.94, UniversitÃ© PanthÃ©on-Sorbonne (Paris 1).
- 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.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lia Ambrosio).
If references are entirely missing, you can add them using this form.