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Nonconvex n-Person Bargaining: Efficient Maxmin Solutions

Author

Listed:
  • Jens Leth Hougaard

    (Copenhagen Business School)

  • Mich Tvede

    (Institute of Economics, University of Copenhagen)

Abstract

This paper provides an axiomatic characterization of a family of so-called efficient maxmin solutions which can be seen as generalizations of the Kalai-Smorodinsky solution to nonconvex n-person bargaining problems. Moreover, it is shown that even though there are several efficient maxmin solutions for some bargaining problems, there is typically a unique efficient maxmin solution.

Suggested Citation

  • Jens Leth Hougaard & Mich Tvede, 1998. "Nonconvex n-Person Bargaining: Efficient Maxmin Solutions," Discussion Papers 98-20, University of Copenhagen. Department of Economics.
    • Handle: RePEc:kud:kuiedp:9820
    DOI: 10.1007/s00199-001-0246-7
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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. Carlos Alós-Ferrer & Jaume García-Segarra & Miguel Ginés-Vilar, 2018. "Anchoring on Utopia: a generalization of the Kalai–Smorodinsky solution," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 6(2), pages 141-155, October.
    3. Cheng-Zhong Qin & Shuzhong Shi & Guofu Tan, 2015. "Nash bargaining for log-convex problems," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 58(3), pages 413-440, April.
    4. Jens Leth Hougaard & Mich Tvede, 2010. "n-Person Nonconvex Bargaining: Efficient Proportional Solutions," MSAP Working Paper Series 02_2010, University of Copenhagen, Department of Food and Resource Economics.
    5. William Thomson, 2022. "On the axiomatic theory of bargaining: a survey of recent results," Review of Economic Design, Springer;Society for Economic Design, vol. 26(4), pages 491-542, December.
    6. Claus-Jochen Haake & Jan Thomas Martini, 2013. "Negotiating Transfer Prices," Group Decision and Negotiation, Springer, vol. 22(4), pages 657-680, July.

    More about this item

    Keywords

    nonconvex n-person bargaining; Kalai-Smorodinsky solution; efficient Maxmin solution;
    All these keywords.

    JEL classification:

    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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