Speaker: Todd Stambaugh, CUNY Graduate Center
Title: Coincidence of Two Solutions to Nash’s Bargaining Problem
Abstract:
John Nash in 1950 gave an elegant solution to the bargaining problem
using his somewhat controversial IIA axiom. Ehud Kalai and Meir Smorodinsky in
1975 gave a different solution replacing the IIA condition by their own Monotonicity
condition. While the two solutions do not coincide in general, they obviously do
so when the problem is symmetric. Are there other cases where the two solutions
coincide? Indeed there are and we give a complete characterization.
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