On unification of solutions to the bargaining problem
Haake, Claus-Jochen
Qin, Cheng-Zhong
Bargaining problem
CES Function
Normalized CES Function
Nash solution
Kalai-Smorodinsky Solution
Egalitarian Solution.
ddc:040
We establish axioms under which a bargaining solution can be found by the maximization of the CES function and is unique up to specification of the distribution and elasticity parameters. This solution is referred to as the CES solution which includes the NASH and egalitarian solutions as special cases. Next, we consider a normalization of the CES function and establish axioms, under which a bargaining solution can be found by the maximization of the normalized CES and is unique up to the specifications of the distribution and its substitution parameters. We refer to this solution as the normalized CES solution, which includes the Nash and Kalai-Smorodinsky solutions as special cases. Our paper contributes to bargaining theory by establishing unified characterizations of existing as well as a great variety of new bargaining solutions.
CIE Working Paper Series, Paderborn University
2018
info:eu-repo/semantics/workingPaper
doc-type:workingPaper
text
https://ris.uni-paderborn.de/record/2933
Haake C-J, Qin C-Z. <i>On Unification of Solutions to the Bargaining Problem</i>. Vol 113. Paderborn University: CIE Working Paper Series, Paderborn University; 2018.
eng
info:eu-repo/semantics/closedAccess