Nash Bargaining Theory, Nonconvex Problems and Social Welfare Orderings
In this paper we deal with the extension of Nash bargaining theory to nonconvex problems. By focussing on the Social Welfare Ordering associated with a bargaining solution, we characterize the symmetric Nash Bargaining Solution (NBS). Moreover, we obtain a unified method of proof of recent characterization results for the asymmetric single-valued NBS and the symmetric multivalued NBS, as well as their extensions to different domains.
Unable to display preview. Download preview PDF.
- Conley, J. and Wilkie, S. (1996), The bargaining problem without convexity: Extending the Nash solution, Games and Economic Behavior 13: 26–38.Google Scholar
- d'Aspremont, C. (1985), Axioms for social welfare orderings, in L. Hurwicz, D. Schmeidler and H. Sonnenschein (eds.), Social Goals and Social Organization, North Holland, Amsterdam.Google Scholar
- Herrero, M.J. (1989), The Nash program: Non-convex bargaining problems, Journal of Economic Theory 49: 266–277.Google Scholar
- Kaneko, M. (1980), An extension of the Nash bargaining problem and the Nash social welfare function, Theory and Decision 12: 135–148.Google Scholar
- Mariotti, M. (1998a), Nash bargaining theory when the number of alternatives can be finite, Social Choice and Welfare 15: 413–421.Google Scholar
- Mariotti, M. (1998b), Extending Nash's axioms to non-convex problems, Games and Economic Behavior 22: 377–383.Google Scholar
- Moulin, H. (1988), Axioms for Cooperative Decision Making, North Holland, Amsterdam.Google Scholar
- Nash, J. (1950), The bargaining problem, Econometrica 18: 155–162.Google Scholar
- Roth, A. (1977), Individual rationality and Nash's solution to the bargaining problem, Mathematics of Operations Research 2: 64–65.Google Scholar
- Zhou, L. (1997), The Nash bargaining theory with non-convex problems, Econometrica 65: 681–686.Google Scholar