Bargaining Solutions as Social Compromises

Theory and Decision 55 (4):359-389 (2003)

Abstract
A bargaining solution is a social compromise if it is metrically rationalizable, i.e., if it has an optimum (depending on the situation, smallest or largest) distance from some reference point. We explore the workability and the limits of metric rationalization in bargaining theory where compromising is a core issue. We demonstrate that many well-known bargaining solutions are social compromises with respect to reasonable metrics. In the metric approach, bargaining solutions can be grounded in axioms on how society measures differences between utility allocations. Using this approach, we provide an axiomatic characterization for the class of social compromises that are based on p-norms and for the attending bargaining solutions. We further show that bargaining solutions which satisfy Pareto Optimality and Individual Rationality can always be metrically rationalized
Keywords Economics / Management Science   Economics/Management Science, general   Operation Research/Decision Theory   Methodology of the Social Sciences
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Reprint years 2004
DOI 10.1023/B:THEO.0000047489.82529.18
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E− Mail の特異な綴り. 鈴木雅光 - 2002 - Fenomenologia. Diálogos Possíveis Campinas: Alínea/Goiânia: Editora da Puc Goiás 2:69-80.

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Bargaining and the Impartiality of the Social Contract.Johanna Thoma - 2015 - Philosophical Studies 172 (12):3335-3355.

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