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Asymmetric Nash bargaining solutions: a simple Nash program. (English) Zbl 1284.91165

Summary: This article proposes a simple Nash program. Both our axiomatic characterization and our noncooperative procedure consider each distinct asymmetric and symmetric Nash solution. Our noncooperative procedure is a generalization of the simplest known sequential Nash demand game analyzed by A. Rubinstein et al. [Econometrica 60, No. 5, 1171–1186 (1992; Zbl 0767.90094)]. We then provide the simplest known axiomatic characterization of the class of asymmetric Nash solutions, in which we use only Nash’s crucial Independence of Irrelevant Alternatives axiom and an asymmetric modification of the well-known Midpoint Domination axiom.

MSC:

91B26 Auctions, bargaining, bidding and selling, and other market models

Citations:

Zbl 0767.90094
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References:

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