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.
|Date of creation:||09 Jan 2001|
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|Publication status:||Published in Social Choice and Welfare, 19, 811-823, (2002).|
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