An Extension of the Nash Bargaining Solutiony to Nonconvex Problems
نویسندگان
چکیده
We investigate the domain of comprehensive but not necessarily convex bargaining problems. Without convexity the Nash solution is not well de ̄ned. We propose a new solution, the Nash Extension, that coincides with the Nash solution when S is convex. We characterize it by Weak Pareto Optimality, Symmetry, Scale Invariance, Continuity, and a new axiom, Ethical Monotonicity. Journal of Economic Literature Classi ̄cation Numbers: 020, 022, 026.
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