Truncated egalitarian solutions (Q802473): Difference between revisions
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Revision as of 11:05, 30 January 2024
scientific article
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English | Truncated egalitarian solutions |
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Truncated egalitarian solutions (English)
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1984
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The paper investigates a certain class of solutions to the bargaining problem with a varying set of agents belonging to a finite universe of agents. The class is defined by four conditions: symmetry, independence of irrelevant alternatives, continuity and monotonicity. Thus, no optimality conditions are involved. The main result is that any solution satisfying these conditions equals (except perhaps for a two-agent set) a socalled truncated egalitarian solution. This notion is introduced in the paper, ''truncation'' referring to the agent set involved. Such solutions are not in general optimal.
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bargaining
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varying set of agents
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truncated egalitarian solution
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