Download PDF by William Thomson: Axiomatic Theory of Bargaining with a Variable Number of

By William Thomson

ISBN-10: 0521343836

ISBN-13: 9780521343831

This ebook extrapolates at the Nash (1950) therapy of the bargaining challenge to contemplate the location the place the variety of bargainers could differ. The authors formulate axioms to specify how ideas should still reply to such adjustments, and supply new characterizations of all of the significant suggestions in addition to the generalizations of those recommendations.

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Extra info for Axiomatic Theory of Bargaining with a Variable Number of Agents

Example text

X' = x + F(S)}, then F(S')=F(S)+F(S"). This axiom says that the solution outcome of an expanded problem can be indifferently obtained directly or in stages by first computing the solution outcome of the initial problem and then solving the problem derived from the expanded problem by taking as disagreement point this initial solution outcome. o, syf and dec still characterize the Egalitarian solution. Other characteristics of the Egalitarian solution have been obtained by Myerson (1981) and Peters (1986).

And Se Lp, let Fa(S) be equal to apeP if this point belongs to S and equal to E(S) otherwise. A, CONT, and MON. The Egalitarian solution is obtained by choosing a p = o o for all Pe(?. However, there are solutions satisfying the four axioms that are not of this type. These additional solutions differ from the Fa only in that they permit some utility substitution in the two-person case. See the next chapter for details.

This means that agent 2 is to agent 3 as agent 4 is to agent 5 and as agent 6 is to agent 7. , 7, and x*. 6. A schematic representation of T for the case |P| = 3. 1. INV, and MON, then for all Pe6>, F=K on tp. 2 and of the fact that for each Pe(9 and for each SeLp, xeS can satisfy x^K(S) only if x = K(S). D. INV, and MON. 2. INV, and MON. Proof. 7): to check that K(T) = eQ. O, F(T) = (2,1,1). Also, K(S) =K(TP) =K(cch{(291), (0,2))) = (f, f). 2 again, it coincides with F(S). But then FX{T) = 2> \=FX{TP), in violation of MON.

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Axiomatic Theory of Bargaining with a Variable Number of Agents by William Thomson

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