Arbitration Solutions to Bargaining and Game Theory Problems
نویسندگان
چکیده
Decision theory includes arbitration, bargaining and game theory, whose relationships to each other are not well-understood. This paper introduces a particular weighted arbitration operator and applies it to King Solomon’s dilemma and Nash’s original bargaining problem. These applications allow a more meaningful comparison of the three theories and show that arbitration provides a more natural, simpler and flexible solution than the previously proposed bargaining and game theory solutions.
منابع مشابه
Cooperation in Strategic Games Revisited∗
For two-person complete-information strategic games with transferable utility, all major variable-threat bargaining and arbitration solutions coincide. This confluence of solutions by luminaries such as Nash, Harsanyi, Raiffa, and Selten, is more than mere coincidence. Staying in the class of two-person games with transferable unility, the present paper presents a more complete theory that expa...
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