Extension of the Perles-Maschler Solution to N-Person Bargaining Games
The superadditive solution for 2-person Nash bargaining games was axiomatically defined in Perles/Maschler (1981). In Perles (1982) it was shown that the axioms are incompatible even for 3-person bargaining games. In this paper we offer a generalization method of this solution concept for n-person games. In this method, the Kalai-Smorodinsky solution (1975) is revealed as the rule followed to determine the movements along the path of intermediate agreements.
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Volume (Year): 23 (1994)
Issue (Month): 4 ()
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