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Negotiation problem

Author

Listed:
  • Baybusinov, Izat B.
  • Fenoaltea, Enrico Maria
  • Zhang, Yi-Cheng

Abstract

We propose and solve a negotiation model of multiple players facing many alternative solutions. The model can be generalized to many relevant circumstances where stakeholders’ interests partially overlap and partially oppose. We also show that the model can be mapped into the well-known directed percolation and directed polymers problems. Moreover, many statistical mechanics tools, such as the Replica method, can be fruitfully employed. Studying our negotiation model can enlighten the links between social–economic phenomena and traditional statistical mechanics and help to develop new perspectives and tools in the fertile interdisciplinary field.

Suggested Citation

  • Baybusinov, Izat B. & Fenoaltea, Enrico Maria & Zhang, Yi-Cheng, 2022. "Negotiation problem," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 592(C).
    • Handle: RePEc:eee:phsmap:v:592:y:2022:i:c:s0378437121009754
    DOI: 10.1016/j.physa.2021.126806
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    References listed on IDEAS

    as
    1. Rubinstein, Ariel, 1982. "Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 50(1), pages 97-109, January.
    2. Ken Binmore & Ariel Rubinstein & Asher Wolinsky, 1986. "The Nash Bargaining Solution in Economic Modelling," RAND Journal of Economics, The RAND Corporation, vol. 17(2), pages 176-188, Summer.
    3. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
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    6. Enrico Maria Fenoaltea & Izat B. Baybusinov & Jianyang Zhao & Lei Zhou & Yi-Cheng Zhang, 2021. "The Stable Marriage Problem: an Interdisciplinary Review from the Physicist's Perspective," Papers 2103.11458, arXiv.org.
    7. Herbert A. Simon, 1955. "A Behavioral Model of Rational Choice," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 69(1), pages 99-118.
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