Efficiency and compromise: a bid-offer–counteroffer mechanism with two players

Yuan Ju

International Journal of Game Theory, 2013, vol. 42, issue 2, 520 pages

Abstract: A bid-offer–counteroffer mechanism is proposed to solve a fundamental two-person decision choice problem with two alternatives. It yields a unique subgame perfect equilibrium outcome, and leads to an intuitive overall solution that offers a reconciliation between egalitarianism and utilitarianism. We then investigate the axiomatic foundation of the solution. Furthermore, we compare it with several conventional strategic approaches to this setting. Copyright Springer-Verlag 2013

Keywords: Decision choice; Bargaining; Conflict resolution; Counteroffer; Implementation; C71; C72; D62; D70 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s00182-012-0336-8

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