A generalization of the Egalitarian and the Kalai–Smorodinsky bargaining solutions
Dominik Karos, Nozomu Muto, Shiran Rachmilevitch
Abstract
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Dominik Karos, Nozomu Muto, Shiran Rachmilevitch
Abstract
Open-access reader
We characterize the class of weakly efficient n-person bargaining solutions that solely depend on the ratios of the players’ ideal payoffs. In the case of at least three players the ratio between the solution payoffs of any two players is a power of the ratio between their ideal payoffs. As special cases this class contains the Egalitarian and the Kalai–Smorodinsky bargaining solutions, which can be pinned down by imposing additional axioms.
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We characterize the class of weakly efficient n-person bargaining solutions that solely depend on the ratios of the players’ ideal payoffs. In the case of at least three players the ratio between the solution payoffs of any two players is a power of the ratio between their ideal payoffs. As special cases this class contains the Egalitarian and the Kalai–Smorodinsky bargaining solutions, which can be pinned down by imposing additional axioms.
Key concepts: Generalization, Mathematical economics, Economics, Bargaining problem, Mathematics, Microeconomics, Mathematical analysis