TWO CHARACTERISATIONS OF THE LEXICOGRAPHIC EGALITARIAN SOLUTION

Chih Chang and Yan-An Hwang
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Chih Chang: Department of Mathematics, National Tsing Hua University, Hsinchu Taiwan, ROC
Yan-An Hwang: Department of Applied Mathematics, National Dong Hua University, Hualien Taiwan, ROC

International Game Theory Review (IGTR), 2001, vol. 03, issue 04, 315-323

Abstract: Two new axioms,additivity of additional bonus(AAB) andreduced game monotonicity(RGM), are introduced. AAB states that the players can gain an additional bonus after they achieved an agreement; on the other hand, if the bargaining fails then they get nothing. With its help, we characterise the lexicographic egalitarian solution byindividual rationality(IR), AAB andconsistency(CON). The other axiom, RGM, is a weaker axiom than CON andstrong monotonicity(SMON), respectively. UsingPareto optimal(PO), IR, AAB and RGM, the second characterisation of the lexicographic egalitarian solution is presented.

JEL-codes: B4 C0 C6 C7 D5 D7 M2 (search for similar items in EconPapers)
Date: 2001
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DOI: 10.1142/S021919890100049X

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