TY - JOUR
T1 - An extension of the Nash bargaining solution to nonconvex problems
AU - Conley, John P.
AU - Wilkie, Simon
PY - 1996/3
Y1 - 1996/3
N2 - We investigate the domain of comprehensive but not necessarily convex bargaining problems. Without convexity the Nash solution is not well defined. We propose a new solution, the Nash extension, that coincides with the Nash solution when S is convex. We characterize it by weak Pareto optimality, symmetry, scale invariance, continuity, and a new axiom, ethical monotonicity. Journal of Economic Literature Classification Numbers: 020, 022, 026.
AB - We investigate the domain of comprehensive but not necessarily convex bargaining problems. Without convexity the Nash solution is not well defined. We propose a new solution, the Nash extension, that coincides with the Nash solution when S is convex. We characterize it by weak Pareto optimality, symmetry, scale invariance, continuity, and a new axiom, ethical monotonicity. Journal of Economic Literature Classification Numbers: 020, 022, 026.
UR - http://www.scopus.com/inward/record.url?scp=0030099254&partnerID=8YFLogxK
U2 - 10.1006/game.1996.0023
DO - 10.1006/game.1996.0023
M3 - Article
AN - SCOPUS:0030099254
SN - 0899-8256
VL - 13
SP - 26
EP - 38
JO - Games and Economic Behavior
JF - Games and Economic Behavior
IS - 1
ER -