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A characterization of the Nash bargaining solution

Author

Listed:
  • Eyal Winter

    (Department of Economics, Hebrew University, Jerusalem 91905, Israel)

  • Oscar Volij

    (Department of Economics, 260 Heady Hall, Iowa State University, Ames, Iowa 50011, USA)

  • Nir Dagan

    (Academic Priority Ltd., Rashi 31, 52015 Ramat-Gan, Israel)

Abstract

We characterize the Nash bargaining solution replacing the axiom of Independence of Irrelevant Alternatives with three independent axioms: Independence of Non-Individually Rational Alternatives, Twisting, and Disagreement Point Convexity. We give a non-cooperative bargaining interpretation to this last axiom.

Suggested Citation

  • Eyal Winter & Oscar Volij & Nir Dagan, 2002. "A characterization of the Nash bargaining solution," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 19(4), pages 811-823.
    • Handle: RePEc:spr:sochwe:v:19:y:2002:i:4:p:811-823
    Note: Received: 4 September 2000/Accepted: 6 September 2001
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    Citations

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    Cited by:

    1. Haruo Imai & Hannu Salonen, 2009. "Limit Solutions for Finite Horizon Bargaining Problems," Discussion Papers 51, Aboa Centre for Economics.
    2. Geoffroy Clippel, 2007. "An axiomatization of the Nash bargaining solution," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 29(2), pages 201-210, September.
    3. Nir Dagan & Oscar Volij & Eyal Winter, 2001. "The Time-Preference Nash Solution," Economic theory and game theory 014, Oscar Volij.
    4. Y. H. Gu & M. Goh & Q. L. Chen & R. D. Souza & G. C. Tang, 2013. "A new two-party bargaining mechanism," Journal of Combinatorial Optimization, Springer, vol. 25(1), pages 135-163, January.
    5. Shiran Rachmilevitch, 2021. "No individual priorities and the Nash bargaining solution," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 56(4), pages 855-863, May.
    6. Frank A. Schmid, 2001. "Equity financing of the entrepreneurial firm," Review, Federal Reserve Bank of St. Louis, vol. 83(Nov.), pages 15-28.
    7. Shiran Rachmilevitch, 2011. "Disagreement point axioms and the egalitarian bargaining solution," International Journal of Game Theory, Springer;Game Theory Society, vol. 40(1), pages 63-85, February.
    8. Vartiainen, Hannu, 2007. "Collective choice with endogenous reference outcome," Games and Economic Behavior, Elsevier, vol. 58(1), pages 172-180, January.
    9. Diskin, Abraham & Felsenthal, Dan S., 2007. "Individual rationality and bargaining," LSE Research Online Documents on Economics 24233, London School of Economics and Political Science, LSE Library.
    10. Kıbrıs, Özgür & Tapkı, İpek Gürsel, 2011. "Bargaining with nonanonymous disagreement: Decomposable rules," Mathematical Social Sciences, Elsevier, vol. 62(3), pages 151-161.
    11. KIbrIs, Özgür & TapkI, Ipek Gürsel, 2010. "Bargaining with nonanonymous disagreement: Monotonic rules," Games and Economic Behavior, Elsevier, vol. 68(1), pages 233-241, January.
    12. Xu, Yongsheng, 2012. "Symmetry-based compromise and the Nash solution to convex bargaining problems," Economics Letters, Elsevier, vol. 115(3), pages 484-486.

    More about this item

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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