On the equivalence of functional equations involving means and solution to a problem of Daróczy (Q933715)

Let \(I\) be a nonempty, open real interval. A continuous function \(M: I^2 \to I\) is called a mean on \(I\) if \[ \min\{x,y\} \leq M(x,y) \leq \max\{x,y\}, \] for all \(x, y \in I\). The mean \(M\) is strict if the inequalities above are strict when \(x \neq y\). Let \(M_1, M_2\) be two means on \(I\) and define the sequences \(\{x_n\}\) and \(\{y_n\}\) recursively: \[ x_1=M_1(x,y); y_1=M_2(x,y); x_{n+1}=M_1(x_n,y_n); y_{n+1}=M_2(x_n,y_n). \] If \(M_1\) and \(M_2\) are strict, then there exists the common limit \[ \lim_{n \to \infty} x_n=\lim_{n \to \infty} y_n=:M_1\otimes M_2(x,y); \] it is called Gauss composition of \(M_1\) and \(M_2\) and \(M_1\otimes M_2\) is a mean on \(I\). \textit{Z. Daróczy, G. Maksa} and \textit{Z. Páles} [Proc. Am. Math. Soc. 134, No. 2, 521--530 (2006; Zbl 1082.39018)] proposed the following problem: Let \(I\) be a nonempty, open real interval, \(M_1, M_2\) strict means on \(I\). Are the equations \[ f(M_1(x,y))+f(M_2(x,y))=f(x)+f(y) \] and \[ 2f(M_1\otimes M_2(x,y))=f(x)+f(y) \] equivalent? The author gives a positive answer when \(I \subset \mathbb R^+\), \[ M_1(x,y)=px+(1-p)y, \quad M_2(x,y)=\frac{xy}{px+(1-p)y} \] and, consequently, \[ M_1\otimes M_2(x,y)=\sqrt{xy}. \]