Individually rational equal loss principle for bargaining problems

Carmen Herrero () and María del Carmen Marco Gil
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María del Carmen Marco Gil: Universidad Politécnica de Cartagena

Working Papers. Serie AD from Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie)

Abstract: The purpose of this paper is to provide a new solution concept for bargaining problems, which modifies Chun's Equal-Loss Solution in a way that ensures the individual rationality. We also consider its lexicographic extension which turns out to be both individually rational and Pareto Optimal. Characterizations of the proposed solutions are al so provided.

Pages: 38 pages
Date: 1992-11
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http://www.ivie.es/downloads/docs/wpasad/wpasad-1992-05.pdf Fisrt version / Primera version, 1992 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:ivi:wpasad:1992-05

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