Agreement Theory and Consensus

Juan Carlos Candeal (), Esteban Induráin () and José Alberto Molina
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Juan Carlos Candeal: University of Zaragoza
Esteban Induráin: Universidad Pública de Navarra

No 6248, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: In order to formalize the act of agreement between two individuals, the concept of consensus functional equation, for a bi-variate map defined on an abstract choice set, is introduced. Then, and in a purely choice-theoretical framework, we relate the solutions of this equation to the notion of a rationalizable agreement rule. Finally, some results about the specific functional form of the solutions of the consensus functional equation in the setup of monetary payoffs and lotteries, over two outcomes, are also shown.

Keywords: rationalizable agreement rules; consensus equation (search for similar items in EconPapers)
JEL-codes: C60 D63 (search for similar items in EconPapers)
Pages: 15 pages
Date: 2011-12
New Economics Papers: this item is included in nep-cdm
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Published - published as 'The consensus functional equation in agreement theory' in: Advances in Intelligent Systems and Computing, 2013, 228, 219-235

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