Proportional concessions and the leximin solution

Driesen, B. (2012) Proportional concessions and the leximin solution. Economics Letters, 114(3), pp. 288-291. (doi: 10.1016/j.econlet.2011.10.028)

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Abstract

In this note we introduce a new axiom for bargaining solutions, named Proportional Concession Monotonicity (PCM), which imposes that no player benefits when all players collectively make proportional concessions with respect to their respective utopia values. We reconsider the leximin solution (Imai, 1983), and obtain an alternative characterization on the basis of PCM.

Item Type:Articles
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:Driesen, Dr Bram
Authors: Driesen, B.
College/School:College of Social Sciences > Adam Smith Business School > Economics
Journal Name:Economics Letters
Publisher:Elsevier
ISSN:01651765

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