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Nonconvex n-Person Bargaining: Efficient Maxmin Solutions

Author

Listed:
  • Jens Leth Hougaard

    (Copenhagen Business School)

  • Mich Tvede

    (Institute of Economics, University of Copenhagen)

Abstract

This paper provides an axiomatic characterization of a family of so-called efficient maxmin solutions which can be seen as generalizations of the Kalai-Smorodinsky solution to nonconvex n-person bargaining problems. Moreover, it is shown that even though there are several efficient maxmin solutions for some bargaining problems, there is typically a unique efficient maxmin solution.

Suggested Citation

  • Jens Leth Hougaard & Mich Tvede, 1998. "Nonconvex n-Person Bargaining: Efficient Maxmin Solutions," Discussion Papers 98-20, University of Copenhagen. Department of Economics.
  • Handle: RePEc:kud:kuiedp:9820
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    File URL: http://dx.doi.org/10.1007/s00199-001-0246-7
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    Cited by:

    1. Fabio Galeotti, 2017. "The Attraction and Compromise Effects in Bargaining: Experimental Evidence," Post-Print halshs-01657317, HAL.
    2. Cheng-Zhong Qin & Shuzhong Shi & Guofu Tan, 2015. "Nash bargaining for log-convex problems," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 58(3), pages 413-440, April.
    3. Jens Leth Hougaard & Mich Tvede, 2010. "n-Person Nonconvex Bargaining: Efficient Proportional Solutions," MSAP Working Paper Series 02_2010, University of Copenhagen, Department of Food and Resource Economics.
    4. repec:spr:grdene:v:22:y:2013:i:4:d:10.1007_s10726-012-9286-6 is not listed on IDEAS

    More about this item

    Keywords

    nonconvex n-person bargaining; Kalai-Smorodinsky solution; efficient Maxmin solution;

    JEL classification:

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

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