The stagnation effect and the individually strict monotonic path solutions

Jaume Garcia-Segarra () and Miguel Gines-Vilar ()
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Jaume Garcia-Segarra: LEE & Department of Economics, Universitat Jaume I, Castellón

No 2012/10, Working Papers from Economics Department, Universitat Jaume I, Castellón (Spain)

Abstract: Several bargaining solutions could fail to capture advantage from having sets closer to the same utopia point. If the whole frontier of the set is improved maintaining the same utopia point, these solutions outcome remains stagnant at the same point. We called this phenomena the stagnation effect. In order to reflect the idea that if the bargaining set is improved maintaining the same utopia point, then, the solution should also be improved, we introduce the utopia continuity axiom. We propose and characterize, for n-agent problems, the family of the individually strict monotonic solutions. This family is a common subset of the family of the strongly monotonic solutions characterized by Thomson and Myerson (1980)[8] and the individually monotonic solutions characterized by Peters and Tijs (1984)[4] and (1985)[5].

Keywords: Bargaining; Axiomatization; Efficiency; Monotonicity (search for similar items in EconPapers)
JEL-codes: C78 D74 (search for similar items in EconPapers)
Pages: 6 pages
Date: 2012
New Economics Papers: this item is included in nep-gth and nep-mic
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