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Two-stage Bargaining Solutions

Author

Listed:
  • Paola Manzini

    (Queen Mary, University of London)

  • Marco Mariotti

    (Queen Mary, University of London)

Abstract

We introduce and characterize a new class of bargaining solutions: those which can be obtained by sequentially applying two binary relations to eliminate alternatives. As a by-product we obtain as a particular case a partial characterization result by Zhou (Econometrica, 1997) of an extension of the Nash axioms and solution to domains including non-convex problems, as well as a complete characterizations of solutions that satisfy Pareto optimality, Covariance with positive affine transformations, and Independence of irrelevant alternatives.

Suggested Citation

  • Paola Manzini & Marco Mariotti, 2006. "Two-stage Bargaining Solutions," Working Papers 572, Queen Mary University of London, School of Economics and Finance.
  • Handle: RePEc:qmw:qmwecw:wp572
    Note: A revised version is available at the personal homepage of Paola Manzini .
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    File URL: http://www.econ.qmul.ac.uk/media/econ/research/workingpapers/archive/wp572.pdf
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    References listed on IDEAS

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    1. Tadenuma, Koichi, 2002. "Efficiency First or Equity First? Two Principles and Rationality of Social Choice," Journal of Economic Theory, Elsevier, vol. 104(2), pages 462-472, June.
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    Cited by:

    1. Xu, Yongsheng & Yoshihara, Naoki, 2011. "Proportional Nash solutions - A new and procedural analysis of nonconvex bargaining problems," CCES Discussion Paper Series 42, Center for Research on Contemporary Economic Systems, Graduate School of Economics, Hitotsubashi University.

    More about this item

    Keywords

    Bargaining; Non-convex problems; Nash bargaining solution;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions

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