Choice problems with a 'reference' point
In many decision scenarios, one has to choose an element from a set S given some reference point e. For the case where S is a subset of the Euclidean space , we axiomatize the choice method that selects the point in S that is closet to e.
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References listed on IDEAS
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- Chun, Youngsub & Thomson, William, 1992.
"Bargaining problems with claims,"
Mathematical Social Sciences,
Elsevier, vol. 24(1), pages 19-33, August.
- P. L. Yu, 1973. "A Class of Solutions for Group Decision Problems," Management Science, INFORMS, vol. 19(8), pages 936-946, April.
- Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
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