The Time-Preference Nash Solution
We give an axiomatic characterization of the Time-Preference Nash Solution, a bargaining solution that is applied when the underlying preferences are defined over streams of physical outcomes. This bargaining solution is similar to the ordinal Nash solution introduced by Rubinstein, Safra and Thomson (1992), but it gives a different prediction when the set of physical outcomes is a set of lotteries.
|Date of creation:||08 Jun 2001|
|Contact details of provider:|| Postal: Oscar Volij, Department of Economics, Ben-Gurion University, Beer-Sheva 84105, Israel|
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- Yaari, Menahem E, 1987. "The Dual Theory of Choice under Risk," Econometrica, Econometric Society, vol. 55(1), pages 95-115, January.
- Rubinstein, Ariel & Safra, Zvi & Thomson, William, 1992. "On the Interpretation of the Nash Bargaining Solution and Its Extension to Non-expected Utility Preferences," Econometrica, Econometric Society, vol. 60(5), pages 1171-1186, September.
- Volij, Oscar & Winter, Eyal, 2002.
"On Risk Aversion and Bargaining Outcomes,"
Staff General Research Papers Archive
10130, Iowa State University, Department of Economics.
- Eyal Winter & Oscar Volij & Nir Dagan, 2002. "A characterization of the Nash bargaining solution," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 19(4), pages 811-823.
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- Safra Zvi & Zilcha Itzhak, 1993.
"Bargaining Solutions without the Expected Utility Hypothesis,"
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- Zilcha & I. & Safra, Z., 1990. "Bargaining Solutions Without The Expected Utility Hypothesis," Papers 33-90, Tel Aviv.
- Grant, Simon & Kajii, Atsushi, 1995. "A Cardinal Characterization of the Rubinstein-Safra-Thomson Axiomatic Bargaining Theory," Econometrica, Econometric Society, vol. 63(5), pages 1241-1249, September.
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