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Individual monotonicity and the leximin solution

Author

Listed:
  • Mark A. Chen

    (Department of Economics, Harvard University, Cambridge, MA 02138, USA)

Abstract

Most axiomatic treatments of bargaining do not give a substantive role to individually irrational points. We show in this paper that it can matter greatly whether axioms and solutions are formulated with respect to the entire feasible set or with respect to only the individually rational portion. In particular, a principle of individual monotonicity becomes much more powerful when all feasible points are considered. We characterize the n-person Leximin solution as the only solution that satisfies Pareto efficiency, symmetry, individual monotonicity, and independence of individually irrational points.

Suggested Citation

  • Mark A. Chen, 2000. "Individual monotonicity and the leximin solution," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 15(2), pages 353-365.
    • Handle: RePEc:spr:joecth:v:15:y:2000:i:2:p:353-365
    Note: Received: August 31, 1998; revised version: April 26, 1999
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    Citations

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    Cited by:

    1. Bram Driesen, 2016. "Bargaining, conditional consistency, and weighted lexicographic Kalai-Smorodinsky Solutions," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 46(4), pages 777-809, April.
    2. Driesen, Bram, 2016. "Truncated Leximin solutions," Mathematical Social Sciences, Elsevier, vol. 83(C), pages 79-87.
    3. Driesen, Bram, 2012. "Proportional concessions and the leximin solution," Economics Letters, Elsevier, vol. 114(3), pages 288-291.
    4. Salles, Ronaldo M. & Barria, Javier A., 2008. "Lexicographic maximin optimisation for fair bandwidth allocation in computer networks," European Journal of Operational Research, Elsevier, vol. 185(2), pages 778-794, March.
    5. Fasil Alemante & Donald E. Campbell & Jerry S. Kelly, 2016. "Characterizing the resolute part of monotonic social choice correspondences," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 62(4), pages 765-783, October.

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