search query: @author Sadanand, V. / total: 2
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| Author: | Bossert, W. Nosal, E. Sadanand, V. |
| Title: | Bargaining under uncertainty and the monotone path solutions |
| Journal: | Games and Economic Behavior
1996 : JUN, VOL. 14:2, p. 173-189 |
| Index terms: | ECONOMIC BEHAVIOUR BARGAINING UNCERTAINTY |
| Language: | eng |
| Abstract: | Uncertainty with respect to the feasible set of utility vectors is introduced in an axiomatic bargaining model. Given a criterion for nonprobabilistic decision-making under uncertainty, a natural efficiency requirement can be imposed on a bargaining solution. Using the maximin ordering, the strictly monotone path solutions to the bargaining problems are characterized as the only continuous solutions that satisfy this efficiency axiom. If the maximin criterion isis replaced by the maximax ranking or a strict convex combination of the maximin and the maximax criterion, imposing this efficiency axiom and continuity leads to the dictatorial solutions. |
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