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A Characterization of the Nash Bargaining Solution

  • Volij, Oscar
  • Dagan, Nir
  • Winter, Eyal

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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Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 5259.

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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
Handle: RePEc:isu:genres:5259
Contact details of provider: Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
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  1. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
  2. Eric van Damme, 1984. "The Nash Bargaining Solution is Optimal," Discussion Papers 597, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  3. Chun, Youngsub & Thomson, William, 1990. "Nash solution and uncertain disagreement points," Games and Economic Behavior, Elsevier, vol. 2(3), pages 213-223, September.
  4. Marco Mariotti, 1998. "Fair Bargains: Distributive Justice and Nash Bargaining Theory," Royal Holloway, University of London: Discussion Papers in Economics 98/16, Department of Economics, Royal Holloway University of London, revised Feb 1998.
  5. Marco Mariotti, 2000. "Maximal symmetry and the Nash solution," Social Choice and Welfare, Springer, vol. 17(1), pages 45-53.
  6. Peters, Hans J M, 1986. "Simultaneity of Issues and Additivity in Bargaining," Econometrica, Econometric Society, vol. 54(1), pages 153-69, January.
  7. 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.
  8. Ehud Kalai & Robert W. Rosenthal, 1976. "Arbitration of Two-Party Disputes Under Ignorance," Discussion Papers 215, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  9. Lensberg, Terje, 1988. "Stability and the Nash solution," Journal of Economic Theory, Elsevier, vol. 45(2), pages 330-341, August.
  10. Kalai, Ehud & Smorodinsky, Meir, 1975. "Other Solutions to Nash's Bargaining Problem," Econometrica, Econometric Society, vol. 43(3), pages 513-18, May.
  11. Rubinstein, Ariel, 1982. "Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 50(1), pages 97-109, January.
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