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  3. Axiomatic Theory of Bargaining with a Variable Number of Agents
  • Cited by 62
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    • Publisher:
      Cambridge University Press
      Publication date:
      March 2010
      February 1989
      ISBN:
      9780511664489
      9780521343831
      9780521027038
      DOI:
      https://doi.org/10.1017/CBO9780511664489
      Dimensions:
      (228 x 152 mm)
      Weight & Pages:
      0.5kg, 222 Pages
      Dimensions:
      (228 x 152 mm)
      Weight & Pages:
      0.339kg, 224 Pages
      • Subjects:
      Economics, Microeconomics
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    Subjects:
    Economics, Microeconomics
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    Book description

    In this book, Professor Thomson and Professor Lensberg extrapolate upon the Nash (1950) treatment of the bargaining problem to consider the situation where the number of bargainers may vary. The authors formulate axioms to specify how solutions should respond to such changes, and provide new characterizations of all the major solutions as well as generalizations of these solutions. The book also contains several other comparative studies of solutions in the context of a variable number of agents. Much of the theory of bargaining can be rewritten within this context. The pre-eminence of the three solutions at the core of the classical theory is confirmed. These are the solutions introducted by Nash (1950) and two solutions axiomatized in the 1970s (Kalai-Smorodinsky and egalitarian solutions).

    Reviews

    ’This is one of the best books ever written on normative collective choice.’

    Ehud Kalai Source: Social Choice and Welfare

    ’For both the sympathetic and the critical reader, the well-written monograph is the reference book covering this strand of literature.’

    Hans Haller Source: Mathematical Reviews

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