Abstract
The Suppes-Sen dominance relation is a weak criterion of impartiality in distributive justice. I propose its application to Nash bargaining theory. The Nash Bargaining Solution (NBS) is characterized by replacing the controversial Independence of Irrelevant Alternatives axiom with an axiom embodying the Suppes-Sen principle. This allows a clear interpretation of the NBS as a fair arbitration scheme. In addition, the proposed characterization is more robust than the standard one with respect to variations in the domain of bargaining problems.
| Original language | English |
|---|---|
| Pages (from-to) | 733-741 |
| Number of pages | 9 |
| Journal | Review of Economic Studies |
| Volume | 66 |
| Issue number | 3 |
| Publication status | Published - Jul 1999 |
Keywords
- NONCONVEX PROBLEMS
- EXTENSION