Fairness in Bargaining and the Kalai-Smorodinsky Solution
No WP2011/12, Working Papers from University of Haifa, Department of Economics
A bargaining solution guarantees minimal equity if each player's payoff is at least as large as the minimum of the payoffs assigned to him by the equal-gain (i.e., egalitarian) and equal-loss solutions. The Kalai-Smorodinsky solution is the unique scale-invariant 2-person solution with this property. There does not exist a scale-invariant n-person solution with this property.
Keywords: Bargaining; fairness; Kalai-Smorodinsky solution (search for similar items in EconPapers)
JEL-codes: D63 D71 (search for similar items in EconPapers)
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