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Preferences Over Solution to the Bargaining Problem

Author

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  • Border, Kim C.
  • Segal, Uzi

Abstract

There are several solutions to the Nash bargaining problem in the literature. Since various authors have expressed preferences for one solution over another, the authors find it useful to study preferences over solutions in their own right. They identify a set of appealing axioms on such preferences that lead to unanimity in the choice of solution, which turns out to be the solution of Nash. The key axiom is mixture symmetry, implying that if two solutions are equally attractive, then the half-half mixture of them is (weakly) preferred to any other mixture of the two.
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Suggested Citation

  • Border, Kim C. & Segal, Uzi, 1995. "Preferences Over Solution to the Bargaining Problem," Working Papers 923, California Institute of Technology, Division of the Humanities and Social Sciences.
    • Handle: RePEc:clt:sswopa:923
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    File URL: http://www.hss.caltech.edu/SSPapers/sswp923c.pdf
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    Cited by:

    1. Vincent Martinet & Pedro Gajardo & Michel De Lara & Héctor Ramírez Cabrera, 2011. "Bargaining with intertemporal maximin payoffs," EconomiX Working Papers 2011-7, University of Paris Nanterre, EconomiX.
    2. Vartiainen, Hannu, 2007. "Collective choice with endogenous reference outcome," Games and Economic Behavior, Elsevier, vol. 58(1), pages 172-180, January.
    3. Walter Trockel, 2002. "Integrating the Nash program into mechanism theory," Review of Economic Design, Springer;Society for Economic Design, vol. 7(1), pages 27-43.
    4. Uzi Segal, 2000. "Let's Agree That All Dictatorships Are Equally Bad," Journal of Political Economy, University of Chicago Press, vol. 108(3), pages 569-589, June.
    5. Haskel, Jonathan & Sanchis, Amparo, 2000. "A bargaining model of Farrell inefficiency," International Journal of Industrial Organization, Elsevier, vol. 18(4), pages 539-556, May.
    6. Eran Hanany & Yigal Gerchak, 2008. "Nash bargaining over allocations in inventory pooling contracts," Naval Research Logistics (NRL), John Wiley & Sons, vol. 55(6), pages 541-550, September.
    7. Emin Karagözoğlu & Kerim Keskin & Elif Özcan-Tok, 2019. "Between anchors and aspirations: a new family of bargaining solutions," Review of Economic Design, Springer;Society for Economic Design, vol. 23(1), pages 53-73, June.
    8. Naeve-Steinweg, E., 2004. "The averaging mechanism," Games and Economic Behavior, Elsevier, vol. 46(2), pages 410-424, February.

    More about this item

    JEL classification:

    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • C79 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Other

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