Articulating bargaining theories: movement, chance, and necessity as descriptive principles

Sigifredo Laengle ()
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Sigifredo Laengle: University of Chile

Central European Journal of Operations Research, 2021, vol. 29, issue 1, No 3, 49-71

Abstract: Abstract The Nash Demand Game (NDG) has been one of the first models (Nash in Econometrica 21(1):128–140, 1953. https://doi.org/10.2307/1906951 ) that has tried to describe the process of negotiation, competition, and cooperation. This model has had enormous repercussions and has leveraged basic and applied research on bargaining processes. Therefore, we wonder whether it is possible to articulate extensive and multiple developments into a single unifying framework. The Viability Theory has this inclusive approach. Thus, we investigate the NDG under this point of view, and, carrying out this work, we find that the answer is not only affirmative but that we also advance in characterising viable NDGs. In particular, we found foundations describe the distributive Bargaining Theory: the principle of movement and the principle of chance and necessity. Finally, this initial work has many interesting perspectives. The probably most important idea is to integrate developments of the Bargaining Theory and thus capture the complexity of the real world in an articulated way.

Keywords: Bargaining Theory; Viability Theory; Nash Demand Game (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s10100-020-00729-y

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