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A Concessions-Based Mechanism for Meta-Bargaining Problems

  • Marco-Gil, Maria del Carmen


    (Universidad Politécnica de Cartagena, Department of Economics)

  • Peris, Josep E.


    (Universidad de Alicante, Departamento de Métodos Cuantitativos y Teoría Económica)

  • Subiza, Begoña


    (Universidad de Alicante, Departamento de Métodos Cuantitativos y Teoría Económica)

In 1950, Nash's seminal paper introduced the axiomatic approach to the analysis of bargaining situations. Since then, many bargaining solutions have appeared and been axiomatically analyzed. The fact that agents, when face a bargaining problem, can come up with different solution concepts (that is, di§erent notions of fairness and equity) was first introduced by van Damme (1986) by means of the meta-bargaining model. In this paper we present and axiomatically analyze a mechanism for solving meta-bargaining problems, which we call Unanimous-Concession. As an example, we show that the Nash solution is the result of the meta-bargaining process we define, when agents have dual egalitarian criteria. Finally, we compare, from an axiomatic and descriptive point of view, our proposal with other meta-bargaining mechanisms.

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Paper provided by Universidad de Alicante, Departamento de Métodos Cuantitativos y Teoría Económica in its series QM&ET Working Papers with number 12-13.

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Length: 20 pages
Date of creation: 24 Jul 2012
Date of revision:
Handle: RePEc:ris:qmetal:2012_013
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  1. Roger B. Myerson, 1976. "Two-Person Bargaining Problems and Comparable Utility," Discussion Papers 247, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  2. Naeve-Steinweg, E., 2004. "The averaging mechanism," Games and Economic Behavior, Elsevier, vol. 46(2), pages 410-424, February.
  3. Anbarci, Nejat & Yi, Gyoseob, 1992. "A meta-allocation mechanism in cooperative bargaining," Economics Letters, Elsevier, vol. 38(2), pages 175-179, February.
  4. van Damme, E.E.C., 1986. "The Nash bargaining solution is optimal," Other publications TiSEM b408f4e4-5094-48a1-a02f-5, Tilburg University, School of Economics and Management.
  5. Chun, Youngsub & Thomson, William, 1992. "Bargaining problems with claims," Mathematical Social Sciences, Elsevier, vol. 24(1), pages 19-33, August.
  6. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
  7. Roth, Alvin E & Murnighan, J Keith, 1982. "The Role of Information in Bargaining: An Experimental Study," Econometrica, Econometric Society, vol. 50(5), pages 1123-42, September.
  8. Damme, Eric van, 1986. "The Nash bargaining solution is optimal," Journal of Economic Theory, Elsevier, vol. 38(1), pages 78-100, February.
  9. Walter Trockel, 2002. "A universal meta bargaining implementation of the Nash solution," Social Choice and Welfare, Springer, vol. 19(3), pages 581-586.
  10. 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.
  11. Josep Enric Peris Ferrando & Begoña Subiza & María del Carmen Marco, 1995. "A Mechanism For Meta-Bargaining Problems," Working Papers. Serie AD 1995-20, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  12. Herrero, Carmen & Marco, Maria Carmen, 1993. "Rational equal-loss solutions for bargaining problems," Mathematical Social Sciences, Elsevier, vol. 26(3), pages 273-286, November.
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