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Individual Rationality and Nash's Solution to the Bargaining Problem
Mathematics of Operations Research, 1977The axiom of Pareto optimally in Nash's definition of a solution to the bargaining problem may be replaced by an axiom of individual rationality, without altering the result.
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The B.E. Journal of Theoretical Economics, 2023Abstract This paper introduces a family of domains of bargaining problems allowing for non-convexity. For each domain in this family, single-valued bargaining solutions satisfying the Nash axioms are explicitly characterized as solutions of the iterated maximization of Nash products weighted by the row vectors of the associated ...
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