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An axiomatization of the Kalai-Smorodinsky solution when the feasible sets can be finite

Author

Listed:
  • Makoto Tanaka

    (Graduate School of Economics, Kansai University, 3-3-35 Yamatecho Suita 564-8680, Japan)

  • Ryo-ichi Nagahisa

    (Department of Economics, Kansai University, 3-3-35 Yamatecho Suita 564-8680, Japan)

Abstract

We axiomatize the Kalai-Smorodinsky solution (1975) in the Nash bargaining problems if the feasible sets can be finite. We show that the Kalai-Smorodinsky solution is the unique solution satisfying Continuity (in the Hausdorff topology endowed with payoffs space), Independence (which is weaker than Nash's one and essentially equivalent to Roth (1977)'s one), Symmetry, Invariance (both of which are the same as in Kalai and Smorodinsky), and Monotonicity (which reduces to a little bit weaker version of the original if the feasible sets are convex).

Suggested Citation

  • Makoto Tanaka & Ryo-ichi Nagahisa, 2002. "An axiomatization of the Kalai-Smorodinsky solution when the feasible sets can be finite," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 19(4), pages 751-761.
    • Handle: RePEc:spr:sochwe:v:19:y:2002:i:4:p:751-761
    Note: Received: 4 November 1999/Accepted: 6 June 2001
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    Cited by:

    1. Fabio Galeotti & Maria Montero & Anders Poulsen, 2022. "The Attraction and Compromise Effects in Bargaining: Experimental Evidence," Management Science, INFORMS, vol. 68(4), pages 2987-3007, April.
    2. Yongsheng Xu & Naoki Yoshihara, 2020. "Nonconvex Bargaining Problems: Some Recent Developments," Homo Oeconomicus: Journal of Behavioral and Institutional Economics, Springer, vol. 37(1), pages 7-41, November.
    3. Núñez, Matías & Laslier, Jean-François, 2015. "Bargaining through Approval," Journal of Mathematical Economics, Elsevier, vol. 60(C), pages 63-73.
    4. Olivier Cailloux & Beatrice Napolitano & M. Remzi Sanver, 2023. "Compromising as an equal loss principle," Review of Economic Design, Springer;Society for Economic Design, vol. 27(3), pages 547-560, September.
    5. Yongsheng Xu & Naoki Yoshihara, 2019. "An equitable Nash solution to nonconvex bargaining problems," International Journal of Game Theory, Springer;Game Theory Society, vol. 48(3), pages 769-779, September.
    6. Yanhong Gu & Jing Fan & Guochun Tang & Jiaofei Zhong, 2013. "Maximum latency scheduling problem on two-person cooperative games," Journal of Combinatorial Optimization, Springer, vol. 26(1), pages 71-81, July.
    7. Y. H. Gu & M. Goh & Q. L. Chen & R. D. Souza & G. C. Tang, 2013. "A new two-party bargaining mechanism," Journal of Combinatorial Optimization, Springer, vol. 25(1), pages 135-163, January.
    8. Xu, Yongsheng & Yoshihara, Naoki & 吉原, 直毅, 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.

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