Minimax regret and efficient bargaining under uncertainty (Q5928233)

Consider an \(n\)-player bargaining problem under uncertainty, and suppose that the bargainers have minimax regret preferences. If one demands that a solution to this bargaining problem be ex ante efficient, and \(n> 2\), then the only possible bargaining solution is dictatorial. For \(n=2\), a variety of bargaining solutions are efficient, including the Raiffa-Kalai-Smorodinsky solution. These results extend earlier results on maximin preferences [\textit{W. Bossert, E. Nosal} and \textit{V. Sadanand}, ibid. 14, 173-189 (1996; Zbl 0859.90133)].