Multi-Utilitarian Bargaining Solutions

Miguel Ángel Hinojosa (), Amparo Mª Mármol () and José Zarzuelo ()
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Miguel Ángel Hinojosa: Department of Economics, Quantitative Methods and Economic History, Universidad Pablo de Olavide
Amparo Mª Mármol: Department of Applied Economics III, Universidad de Sevilla

No 07.13, Working Papers from Universidad Pablo de Olavide, Department of Economics

Abstract: This paper introduces and analyzes the class of multi-utilitarian solutions for cooperative bargaining problems. We show that generalized Gini solutions and inequality averse Choquet bargaining solutions are particular cases of this new multi-valued solution concept and provide a complete characterization of inequality averse multi-utilitarian solutions in which an invariance property consisting of a weakening of both the linear invariance axiom in Blackorby et al. (1994) and the restricted invariance axiom in Ok and Zhou (2000). Moreover, by relaxing the assumptions involved in the characterization, the class is extended to include equality averse multi-utilitarian solutions which are also studied in the paper.

Keywords: Axiomatic bargaining theory; multi-valued bargaining solutions; generalized Gini solutions; inequality adverse Choquet solutions. (search for similar items in EconPapers)
JEL-codes: C61 C78 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2007-07
New Economics Papers: this item is included in nep-gth and nep-upt
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Persistent link: https://EconPapers.repec.org/RePEc:pab:wpaper:07.13

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