A family of ordinal solutions to bargaining problems with many players
نویسندگان
چکیده
A solution to bargaining problems is ordinal when it is covariant with respect to order-preserving transformations of utility. Shapley has constructed an ordinal, symmetric, efficient solution to threeplayer problems. Here, we extend Shapley’s solution in two directions. First, we extend it to more than three players. Second, we show that this extension lends itself to the construction of a continuum of ordinal, symmetric, efficient solutions. The construction makes use of ordinal path-valued solutions that were suggested and studied by O’Neil et al. [Games Econ. Behav. 48 (2004) 139–153]. 2004 Elsevier Inc. All rights reserved.
منابع مشابه
Ordinal Solutions to Bargaining Problems
A solution to bargaining problems is ordinal when it is covariant with order-preserving transformations of utility. Shapley (1969) has shown that there exists no ordinal, efficient, and symmetric solution to twoplayer bargaining problems, and has constructed such a solution to threeplayer problems. Here, Shapley’s solution is extended in two directions. First, it is shown how to construct an in...
متن کاملAn Ordinal Bargaining Solution with Fixed-Point Property
Shapley’s impossibility result indicates that the two-person bargaining problem has no non-trivial ordinal solution with the traditional game-theoretic bargaining model. Although the result is no longer true for bargaining problems with more than two agents, none of the well known bargaining solutions are ordinal. Searching for meaningful ordinal solutions, especially for the bilateral bargaini...
متن کاملStable partitions for games with non-transferable utility and externalities
We provide a model of coalitional bargaining with claims in order to solve games with non-transferable utilities and externalities. We show that, for each such game, payoff configurations exist which will not be renegotiated. In the ordinal game derived from these payoff configurations, we can find a partition in which no group of players has an incentive to jointly change their coalitions. For...
متن کاملAn ordinal solution to bargaining problems with many players
Shapley proved the existence of an ordinal, symmetric and efficient solution for three-player bargaining problems. Ordinality refers to the covariance of the solution with respect to orderpreserving transformations of utilities. The construction of this solution is based on a special feature of the three-player utility space: given a Pareto surface in this space, each utility vector is the idea...
متن کاملBargaining over a finite set of alternatives
We analyze bilateral bargaining over a finite set of alternatives. We look for “good” ordinal solutions to such problems and show that Unanimity Compromise and Rational Compromise are the only bargaining rules that satisfy a basic set of properties. We then extend our analysis to admit problems with countably infinite alternatives. We show that, on this class, no bargaining rule choosing finite...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
- Games and Economic Behavior
دوره 50 شماره
صفحات -
تاریخ انتشار 2005