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Bargaining with endogenous disagreement: The extended Kalai–Smorodinsky solution

  • Bozbay, Irem
  • Dietrich, Franz
  • Peters, Hans

Following Vartiainen (2007) we consider bargaining problems in which no exogenous disagreement outcome is given. A bargaining solution assigns a pair of outcomes to such a problem, namely a compromise outcome and a disagreement outcome: the disagreement outcome may serve as a reference point for the compromise outcome, but other interpretations are given as well. For this framework we propose and study an extension of the classical Kalai–Smorodinsky bargaining solution. We identify the (large) domain on which this solution is single-valued, and present two axiomatic characterizations on subsets of this domain.

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Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 74 (2012)
Issue (Month): 1 ()
Pages: 407-417

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Handle: RePEc:eee:gamebe:v:74:y:2012:i:1:p:407-417
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622836

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  1. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
  2. Vartiainen, Hannu, 2007. "Collective choice with endogenous reference outcome," Games and Economic Behavior, Elsevier, vol. 58(1), pages 172-180, January.
  3. Peters, H.J.M. & Tijs, S.H., 1985. "Characterization of all individually monotonic bargaining solutions," Other publications TiSEM 52f5a6d5-dcac-4fec-9b8e-9, Tilburg University, School of Economics and Management.
  4. Carmen Herrero, 1997. "Endogenous reference points and the adjusted proportional solution for bargaining problems with claims," Social Choice and Welfare, Springer, vol. 15(1), pages 113-119.
  5. Kalai, Ehud & Smorodinsky, Meir, 1975. "Other Solutions to Nash's Bargaining Problem," Econometrica, Econometric Society, vol. 43(3), pages 513-18, May.
  6. Thomson, William, 1981. "A class of solutions to bargaining problems," Journal of Economic Theory, Elsevier, vol. 25(3), pages 431-441, December.
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