IDEAS home Printed from https://ideas.repec.org/p/bie/wpaper/354.html
   My bibliography  Save this paper

On the meaning of the Nash product

Author

Listed:
  • Trockel, Walter

    (Center for Mathematical Economics, Bielefeld University)

Abstract

The paper provides two alternative completions of the Pareto ordering on finite dimensional compact sets. Applied to bargaining games they lead to the Pareto efficient boundary and to the Nash solution, respectively, as sets of maximal elements. In particular, the second of these complete preorderings is represented by the Nash product. This provides an interesting "straightforward interpretation" that the Nash product according to Osborne and Rubinstein (1994, p. 303) is lacking.

Suggested Citation

  • Trockel, Walter, 2011. "On the meaning of the Nash product," Center for Mathematical Economics Working Papers 354, Center for Mathematical Economics, Bielefeld University.
    • Handle: RePEc:bie:wpaper:354
    as

    Download full text from publisher

    File URL: https://pub.uni-bielefeld.de/download/2315391/2319781
    File Function: First Version, 2003
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
    2. Martin J. Osborne & Ariel Rubinstein, 1994. "A Course in Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650401, December.
    3. Trockel, Walter, 2017. "Rationalizability of the Nash bargaining solution," Center for Mathematical Economics Working Papers 291, Center for Mathematical Economics, Bielefeld University.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Trockel, W., 2008. "The Nash product is a utility representation of the Pareto ordering," Economics Letters, Elsevier, vol. 99(2), pages 220-222, May.
    2. Jacob Engwerda & Davoud Mahmoudinia & Rahim Dalali Isfahani, 2016. "Government and Central Bank Interaction under Uncertainty: A Differential Games Approach," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 20(2), pages 225-259, Spring.
    3. Patrick Maillé & Bruno Tuffin, 2017. "Preventing competition using side payments: when non-neutrality creates barriers to entry," Netnomics, Springer, vol. 18(1), pages 3-22, May.
    4. Hanato, Shunsuke, 2019. "Simultaneous-offers bargaining with a mediator," Games and Economic Behavior, Elsevier, vol. 117(C), pages 361-379.
    5. Duersch, Peter & Oechssler, Jörg & Schipper, Burkhard C., 2012. "Unbeatable imitation," Games and Economic Behavior, Elsevier, vol. 76(1), pages 88-96.
    6. Walter Trockel, 2002. "Integrating the Nash program into mechanism theory," Review of Economic Design, Springer;Society for Economic Design, vol. 7(1), pages 27-43.
    7. Söllner, Matthias, 2008. "Menschliches Verhalten in elektronischen Märkten," Bayreuth Reports on Information Systems Management 34, University of Bayreuth, Chair of Information Systems Management.
    8. Engwerda, J.C., 2012. "Prospects of Tools from Differential Games in the Study Of Macroeconomics of Climate Change," Other publications TiSEM cac36d07-227b-4cf2-83cb-7, Tilburg University, School of Economics and Management.
    9. John K. Horowitz & Richard E. Just & Sinaia Netanyahu, 1996. "Potential Benefits and Limitations of Game Theory in Agricultural Economics," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(3), pages 753-760.
    10. Li, Zhong-Ping & Wang, Jian-Jun & Perera, Sandun & Shi, Jim (Junmin), 2022. "Coordination of a supply chain with Nash bargaining fairness concerns," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 159(C).
    11. Jihong Lee & Hamid Sabourian, 2005. "Efficiency in Negotiation: Complexity and Costly Bargaining," Birkbeck Working Papers in Economics and Finance 0505, Birkbeck, Department of Economics, Mathematics & Statistics.
    12. Hamid Sabourian & Jihong Lee, 2004. "Complexity and Efficiency in the Negotiation Game," Econometric Society 2004 North American Winter Meetings 82, Econometric Society.
    13. Villani, Salvatore, 2008. "L’emergenza dei tre lustri, la salma contesa e il gioco dell’Ultimatum. Alcune riflessioni sui problemi che caratterizzano le decisioni pubbliche in Italia [The 15-years-long emergency, the burial-," MPRA Paper 29857, University Library of Munich, Germany, revised 14 Sep 2008.
    14. Sergiu Hart & Andreu Mas-Colell, 2008. "Cooperative Games in Strategic Form," Discussion Paper Series dp484, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
    15. van Damme, E.E.C., 2000. "Non-cooperative Games," Other publications TiSEM 51465233-a356-4d20-acc4-c, Tilburg University, School of Economics and Management.
    16. van Damme, E.E.C., 2015. "Game theory : Noncooperative games," Other publications TiSEM ff518f2b-501f-4d99-817b-c, Tilburg University, School of Economics and Management.
    17. Zhang, H. M. & Ge, Y. E., 2004. "Modeling variable demand equilibrium under second-best road pricing," Transportation Research Part B: Methodological, Elsevier, vol. 38(8), pages 733-749, September.
    18. Lone Grønbæk, 2000. "Fishery Economics and Game Theory," Working Papers 14/00, University of Southern Denmark, Department of Sociology, Environmental and Business Economics.
    19. Daron Acemoglu & Georgy Egorov & Konstantin Sonin, 2006. "Coalition Formation in Political Games," Working Papers w0090, Center for Economic and Financial Research (CEFIR).
    20. Shaun Hargreaves Heap & Mehmet S. Ismail, 2021. "No-harm principle, rationality, and Pareto optimality in games," Papers 2101.10723, arXiv.org, revised Nov 2022.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bie:wpaper:354. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Bettina Weingarten (email available below). General contact details of provider: https://edirc.repec.org/data/imbiede.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.