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A Characterization of the Nash Bargaining Solution

Author

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

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

  • Volij, Oscar & Dagan, Nir & Winter, Eyal, 2002. "A Characterization of the Nash Bargaining Solution," Staff General Research Papers Archive 5259, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genres:5259
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    Citations

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    Cited by:

    1. Vartiainen, Hannu, 2007. "Collective choice with endogenous reference outcome," Games and Economic Behavior, Elsevier, vol. 58(1), pages 172-180, January.
    2. Haruo Imai & Hannu Salonen, 2009. "Limit Solutions for Finite Horizon Bargaining Problems," Discussion Papers 51, Aboa Centre for Economics.
    3. 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.
    4. 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.
    5. Nir Dagan & Oscar Volij & Eyal Winter, 2001. "The Time-Preference Nash Solution," Economic theory and game theory 014, Oscar Volij.
    6. 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.
    7. 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.
    8. 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.
    9. KIbrIs, Özgür & TapkI, Ipek Gürsel, 2010. "Bargaining with nonanonymous disagreement: Monotonic rules," Games and Economic Behavior, Elsevier, vol. 68(1), pages 233-241, January.
    10. Kıbrıs, Özgür & Tapkı, İpek Gürsel, 2011. "Bargaining with nonanonymous disagreement: Decomposable rules," Mathematical Social Sciences, Elsevier, vol. 62(3), pages 151-161.
    11. Frank A. Schmid, 2001. "Equity financing of the entrepreneurial firm," Review, Federal Reserve Bank of St. Louis, vol. 83(Nov.), pages 15-28.
    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:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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