The conservative Kalai–Smorodinsky solution for multiple scenario bargaining

L. Monroy (), V. Rubiales () and A. M. Mármol ()
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L. Monroy: Universidad de Sevilla
V. Rubiales: Universidad de Sevilla
A. M. Mármol: Universidad de Sevilla

Annals of Operations Research, 2017, vol. 251, issue 1, No 17, 285-299

Abstract: Abstract In this paper we address two-person bargaining problems under uncertainty where several states of nature or future scenarios are considered. We propose a solution concept based on the distance to a utopia minimum outcome vector, which guarantees conservative levels of achievement for the agents. We also provide an axiomatic characterization for a significant class of these bargaining problems. An extension of the classic model of firm-union negotiation, which includes situations where uncertainty about the consequences of the agreements have to be taken into account, is analyzed in this framework.

Keywords: Bargaining; Solutions; Uncertainty; Risk-aversion; Union-firm negotiations (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1007/s10479-015-1894-5

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