Journal ArticleDOI
The equal-loss principle for bargaining problems
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In this paper, a new bargaining solution, called the equal-loss solution, was introduced, which equalizes across agents the losses from the ideal point, and two characterizations of the solution are presented by formulating axioms specifying how bargaining solutions should respond to changes in the feasible set and the ideal points.About:
This article is published in Economics Letters.The article was published on 1988-01-01. It has received 77 citations till now. The article focuses on the topics: Bargaining problem & Feasible region.read more
Citations
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Journal ArticleDOI
Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: an update
TL;DR: This essay is an update of Thomson (2003), a survey of the literature devoted to the study of such problems as a group of agents having claims on a resource but there is not enough of it to honor all of the claims.
Book ChapterDOI
Chapter 35 Cooperative models of bargaining
TL;DR: The axiomatic theory of bargaining originated in a fundamental paper by J.F. Nash as mentioned in this paper, who introduced an idealized representation of the bargaining problem and developed a methodology that gave the hope that the undeterminateness of the terms of bargaining could be resolved.
Journal ArticleDOI
The three musketeers: four classical solutions to bankruptcy problems
Carmen Herrero,Antonio Villar +1 more
TL;DR: A comparative analysis of some classical solutions to bankruptcy problems from an axiomatic viewpoint is provided to facilitate the understanding of their differences and to clarify the type of situations in which each of these rules is better.
Journal ArticleDOI
Regret aversion and opportunity dependence
TL;DR: An axiomatic model of decision making under uncertainty in which the decision maker is driven by anticipated ex post regrets and both regret aversion and likelihood judgement over states to coexist is provided.
Journal ArticleDOI
Application of game theory for a groundwater conflict in Mexico.
TL;DR: Game theory was applied to a multiobjective conflict problem for the Alto Rio Lerma Irrigation District, located in the state of Guanajuato in Mexico, where economic benefits from agricultural production should be balanced with associated negative environmental impacts.
References
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Journal ArticleDOI
The Bargaining Problem
TL;DR: In this paper, a new treatment is presented of a classical economic problem, one which occurs in many forms, as bargaining, bilateral monopoly, etc It may also be regarded as a nonzero-sum two-person game in which a few general assumptions are made concerning the behavior of a single individual and of a group of two individuals in certain economic environments.
Journal ArticleDOI
Games and decisions; introduction and critical survey.
R. Duncan Luce,Howard Raiffa +1 more
Journal ArticleDOI
Other solutions to nash's bargaining problem
Ehud Kalai,Meir Smorodinsky +1 more
TL;DR: In this paper, it is shown that under four axioms that describe the behavior of players, there is a unique solution to the two-player bargaining problem, which is different from those suggested by Nash.
Journal ArticleDOI
A Class of Solutions for Group Decision Problems
TL;DR: Given a set of utility functions defined on a decision space for a group of individuals, the concept of utopia point for the group as well as the group regret of a feasible decision is introduced.
Journal ArticleDOI
Game theoretic analysis of a bankruptcy problem from the Talmud
TL;DR: For three different bankruptcy problems, the 2000-year old Babylonian Talmud prescribes solutions that equal precisely the nucleoli of the corresponding coalitional games, and a rationale for these solutions that is independent of game theory is given in this article.