Stagnation proofness and individually monotonic bargaining solutions
The aim of this paper is to generalize the results of Peter and Tijs  and . We propose a characterization that holds both for n-agent problems and for a larger class of problems. The axioms used in our characterization are weaker because they are implied by the characterization in the aforementioned references. We analyze a phenomenon known as stagnation effect, which takes place when a bargaining solution remains unchanged facing all possible expansions of the bargaining set not affecting the utopia point. Our main result relies on a very weak axiom, stagnation proofness. Whenever a bargaining solution satisfies this axiom, such solution does not suffer from the stagnation effect.
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- Peters, H.J.M. & Tijs, S.H., 1985. "Characterization of all individually monotonic bargaining solutions," Other publications TiSEM 52f5a6d5-dcac-4fec-9b8e-9, Tilburg University, School of Economics and Management.
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- Peters, H.J.M. & Tijs, S.H., 1984. "Individually monotonic bargaining solutions of n-person bargaining games," Other publications TiSEM 94ffcb19-a0bc-4364-a42e-7, Tilburg University, School of Economics and Management.
- Kalai, Ehud, 1977. "Proportional Solutions to Bargaining Situations: Interpersonal Utility Comparisons," Econometrica, Econometric Society, vol. 45(7), pages 1623-1630, October.
- Ehud Kalai, 1977. "Proportional Solutions to Bargaining Situations: Interpersonal Utility Comparisons," Discussion Papers 179, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Imai, Haruo, 1983. "Individual Monotonicity and Lexicographic Maxmin Solution," Econometrica, Econometric Society, vol. 51(2), pages 389-401, March.
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- Dubra, Juan, 2001. "An asymmetric Kalai-Smorodinsky solution," Economics Letters, Elsevier, vol. 73(2), pages 131-136, November.
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