Proportional concessions and the leximin solution

Bram Driesen ()

Economics Letters, 2012, vol. 114, issue 3, 288-291

Abstract: In this note we introduce a new axiom for bargaining solutions, named Proportional Concession Monotonicity (PCM), which imposes that no player benefits when all players collectively make proportional concessions with respect to their respective utopia values. We reconsider the leximin solution (Imai, 1983), and obtain an alternative characterization on the basis of PCM.

Keywords: Bargaining; Axiomatic characterization; Leximin solution (search for similar items in EconPapers)
JEL-codes: C78 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (3)

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Working Paper: Proportional Concessions and the Leximin Solution (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:114:y:2012:i:3:p:288-291

DOI: 10.1016/j.econlet.2011.10.028

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