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Bargaining with an Agenda

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  • Barry O'Neill
  • Dov Samet
  • Zvi Wiener
  • Eyal Winter

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Abstract

Gradual bargaining is represented by an agenda: a family of increasing sets of joint utilities, parameterized by time. A solution for gradual bargaining specifies an agreement at each time. We axiomatize an ordinal solution, i.e., one that is covariant with order-preserving transformations of utility. It can be viewed as the limit of a step-by-step bargaining in which the agreement of the last negotiation becomes the disagreement point for the next. The stepwise agreements may follow the Nash solution, the Kalai-Smorodinsky solution or many others.

Suggested Citation

  • Barry O'Neill & Dov Samet & Zvi Wiener & Eyal Winter, 2002. "Bargaining with an Agenda," Discussion Paper Series dp315, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
  • Handle: RePEc:huj:dispap:dp315
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    References listed on IDEAS

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    1. Sprumont, Yves, 1998. "Ordinal Cost Sharing," Journal of Economic Theory, Elsevier, vol. 81(1), pages 126-162, July.
    2. Kalai, Ehud & Smorodinsky, Meir, 1975. "Other Solutions to Nash's Bargaining Problem," Econometrica, Econometric Society, vol. 43(3), pages 513-518, May.
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    4. Safra, Zvi & Samet, Dov, 2004. "An ordinal solution to bargaining problems with many players," Games and Economic Behavior, Elsevier, vol. 46(1), pages 129-142, January.
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    6. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
    7. Fershtman, Chaim, 1990. "The importance of the agenda in bargaining," Games and Economic Behavior, Elsevier, vol. 2(3), pages 224-238, September.
    8. Maschler,Michael Owen,Guillermo & Peleg,Bezalel, 1987. "Paths leadings to the Nash set," Discussion Paper Serie A 135, University of Bonn, Germany.
    9. Thomson, William, 1994. "Cooperative models of bargaining," Handbook of Game Theory with Economic Applications,in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 2, chapter 35, pages 1237-1284 Elsevier.
    10. Daniel J. Seidmann & Eyal Winter, 1998. "A Theory of Gradual Coalition Formation," Review of Economic Studies, Oxford University Press, vol. 65(4), pages 793-815.
    11. Nicolò, Antonio & Perea, Andrés, 2000. "A non-welfarist solution for two-person bargaining situations," UC3M Working papers. Economics 7222, Universidad Carlos III de Madrid. Departamento de Economía.
    12. Clara Ponsati & Joel Watson, 1998. "Multiple-Issue Bargaining and Axiomatic Solutions," International Journal of Game Theory, Springer;Game Theory Society, vol. 26(4), pages 501-524.
    13. Winter, Eyal, 1997. "Negotiations in multi-issue committees," Journal of Public Economics, Elsevier, vol. 65(3), pages 323-342, September.
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    Citations

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    Cited by:

    1. Julián Arévalo, 2004. "Negociación Nash Gradual con Agenda Endógena: Un Modelo Trayectoria-Dependiente," Game Theory and Information 0407001, EconWPA.
    2. Safra, Zvi & Samet, Dov, 2004. "An ordinal solution to bargaining problems with many players," Games and Economic Behavior, Elsevier, vol. 46(1), pages 129-142, January.
    3. Samet, Dov, 2009. "What if Achilles and the tortoise were to bargain? An argument against interim agreements," MPRA Paper 23370, University Library of Munich, Germany.
    4. Diskin, A. & Koppel, M. & Samet, D., 2011. "Generalized Raiffa solutions," Games and Economic Behavior, Elsevier, vol. 73(2), pages 452-458.
    5. de Clippel, Geoffroy & Bejan, Camelia, 2011. "No profitable decompositions in quasi-linear allocation problems," Journal of Economic Theory, Elsevier, vol. 146(5), pages 1995-2012, September.
    6. Perez-Castrillo, David & Wettstein, David, 2006. "An ordinal Shapley value for economic environments," Journal of Economic Theory, Elsevier, vol. 127(1), pages 296-308, March.
    7. Nicolo, Antonio & Perea, Andres, 2005. "Monotonicity and equal-opportunity equivalence in bargaining," Mathematical Social Sciences, Elsevier, vol. 49(2), pages 221-243, March.
    8. Joan Esteban & József Sákovics, 2008. "A Theory of Agreements in the Shadow of Conflict: The Genesis of Bargaining Power," Theory and Decision, Springer, vol. 65(3), pages 227-252, November.
    9. Joan Esteban & József Sákovics, 2002. "Endogenous bargaining power," Economics Working Papers 644, Department of Economics and Business, Universitat Pompeu Fabra.
    10. Julian J. Arevalo, 2005. "Gradual Nash Bargaining with Endogenous Agenda: A Path-Dependent Model," Game Theory and Information 0502004, EconWPA.
    11. Boragan Aruoba, S. & Rocheteau, Guillaume & Waller, Christopher, 2007. "Bargaining and the value of money," Journal of Monetary Economics, Elsevier, vol. 54(8), pages 2636-2655, November.
    12. Calvo, Emilio & Peters, Hans, 2005. "Bargaining with ordinal and cardinal players," Games and Economic Behavior, Elsevier, vol. 52(1), pages 20-33, July.
    13. Kibris, Ozgur, 2004. "Egalitarianism in ordinal bargaining: the Shapley-Shubik rule," Games and Economic Behavior, Elsevier, vol. 49(1), pages 157-170, October.
    14. Joan-Maria Esteban & József Sákovics, 2005. "A Theory of Agreements in the Shadow of Conflict," Working Papers 255, Barcelona Graduate School of Economics.
    15. Nosal, Ed & Rocheteau, Guillaume, 2013. "Pairwise trade, asset prices, and monetary policy," Journal of Economic Dynamics and Control, Elsevier, vol. 37(1), pages 1-17.
    16. Amparo Mármol & Clara Ponsatí, 2008. "Bargaining over multiple issues with maximin and leximin preferences," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 30(2), pages 211-223, February.
    17. Aviad Heifetz & Clara Ponsati, 2007. "All in good time," International Journal of Game Theory, Springer;Game Theory Society, vol. 35(4), pages 521-538, April.
    18. Christopher Waller & Guillaume Rocheteau, 2005. "Bargaining in Monetary Economies," 2005 Meeting Papers 55, Society for Economic Dynamics.
    19. Vidal-Puga, Juan, 2015. "A non-cooperative approach to the ordinal Shapley–Shubik rule," Journal of Mathematical Economics, Elsevier, vol. 61(C), pages 111-118.

    More about this item

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

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