A Characterization of the Nash Bargaining Solution
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.
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|Date of creation:||01 Jan 2002|
|Date of revision:|
|Publication status:||Published in Social Choice and Welfare 2002, vol. 19, pp. 811-823|
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- Kalai, Ehud & Smorodinsky, Meir, 1975. "Other Solutions to Nash's Bargaining Problem," Econometrica, Econometric Society, vol. 43(3), pages 513-18, May.
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