Kalai-Smorodinsky Bargaining Solution Equilibria
Multicriteria games describe strategic interactions in which players, having more than one criterion to take into account, don't have an a-priori opinion on the rel- ative importance of all these criteria. Roemer (2005) introduces an organizational interpretation of the concept of equilibrium: each player can be viewed as running a bargaining game among criteria. In this paper, we analyze the bargaining problem within each player by considering the Kalai-Smorodinsky bargaining solution. We provide existence results for the so called Kalai-Smorodinsky bargaining solution equilibria for a general class of disagreement points which properly includes the one considered in Roemer (2005). Moreover we look at the refinement power of this equilibrium concept and show that it is an effective selection device even when combined with classical refinement concepts based on stability with respect to perturbations such as the the extension to multicriteria games of the Selten's (1975) trembling hand perfect equilibrium concept.
|Date of creation:||30 Jul 2009|
|Date of revision:|
|Publication status:||published in Journal of Optimization, Theory and Applications, 2010, Vol. 145, 429449|
|Contact details of provider:|| Postal: |
Phone: +39 081 - 675372
Fax: +39 081 - 675372
Web page: http://www.csef.it/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Giuseppe De Marco & Jacqueline Morgan, 2007. "A Refinement Concept For Equilibria In Multicriteria Games Via Stable Scalarizations," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 9(02), pages 169-181.
- Loridan, P. & Morgan, J. & Raucci, R., 1997. "Convergence of Minimal and Approximate Minimal Elements of Sets in Partially Ordered Vector Spaces," Papiers d'Economie MathÃ©matique et Applications 97.94, UniversitÃ© PanthÃ©on-Sorbonne (Paris 1).
- Borm, P.E.M. & van Megen, F.J.C. & Tijs, S.H., 1999. "A perfectness concept for multicriteria games," Other publications TiSEM 322bd1a7-90e0-400d-b167-6, Tilburg University, School of Economics and Management.
- Roth, Alvin E., 1977. "Independence of irrelevant alternatives, and solutions to Nash's bargaining problem," Journal of Economic Theory, Elsevier, vol. 16(2), pages 247-251, December.
- Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
When requesting a correction, please mention this item's handle: RePEc:sef:csefwp:235. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lia Ambrosio)
If references are entirely missing, you can add them using this form.