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Characterizing the Nash and Raiffa bargaining solutions by disagreement point axioms

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  • van Damme, E.E.C.

    (Tilburg University, School of Economics and Management)

  • Peters, H.

Abstract

We provide a new characterization of the n -person Nash bargaining solutions which does not involve Nash's Independence of Irrelevant Alternatives axiom, but mainly uses axioms which concern changes in the disagreement point and leave the feasible set fixed. The main axiom requires a convex combination of a disagreement point and the corresponding solution point to give rise to that same solution point. Further, we describe how the disagreement point approach can be applied to other bargaining solutions. The main result of the latter part is a first characterization of the so-called Continuous Raiffa solution.
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Suggested Citation

  • van Damme, E.E.C. & Peters, H., 1991. "Characterizing the Nash and Raiffa bargaining solutions by disagreement point axioms," Other publications TiSEM 4bd5eb9e-328a-45a0-aa0a-e, Tilburg University, School of Economics and Management.
    • Handle: RePEc:tiu:tiutis:4bd5eb9e-328a-45a0-aa0a-edbd38168d88
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    References listed on IDEAS

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    1. Kalai, Ehud, 1977. "Proportional Solutions to Bargaining Situations: Interpersonal Utility Comparisons," Econometrica, Econometric Society, vol. 45(7), pages 1623-1630, October.
    2. Marini, Giancarlo & van der Ploeg, Frederick, 1988. "Monetary and Fiscal Policy in an Optimising Model with Capital Accumulation and Finite Lives," Economic Journal, Royal Economic Society, vol. 98(392), pages 772-786, September.
    3. Livne, Zvi, 1986. "The bargaining problem: axioms concerning changes in the conflict point," Economics Letters, Elsevier, vol. 21(2), pages 131-134.
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