Duality, area-considerations, and the Kalai–Smorodinsky solution

Emin Karagözoğlu; Shiran Rachmilevitch

doi:10.1016/j.orl.2016.11.003

Duality, area-considerations, and the Kalai–Smorodinsky solution

Emin Karagözoğlu, Shiran Rachmilevitch

Department of Economics

Research output: Contribution to journal › Article › peer-review

Abstract

We introduce a new solution concept for 2-person bargaining problems, which can be considered as the dual of the Equal-Area solution (EA) (see Anbarcı and Bigelow (1994)). Hence, we call it the Dual Equal-Area solution (DEA). We show that the point selected by the Kalai–Smorodinsky solution (see Kalai and Smorodinsky (1975)) lies in between those that are selected by EA and DEA. We formulate an axiom–area-based fairness–and offer three characterizations of the Kalai–Smorodinsky solution in which this axiom plays a central role.

Original language	English
Pages (from-to)	30-33
Number of pages	4
Journal	Operations Research Letters
Volume	45
Issue number	1
DOIs	https://doi.org/10.1016/j.orl.2016.11.003
State	Published - 1 Jan 2017

Bibliographical note

Publisher Copyright:
© 2016 Elsevier B.V.

Keywords

Axioms
Bargaining problem
Dual bargaining problem
Egalitarianism
Equal-area solution
Kalai–Smorodinsky solution

ASJC Scopus subject areas

Software
Management Science and Operations Research
Industrial and Manufacturing Engineering
Applied Mathematics

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10.1016/j.orl.2016.11.003

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abstract = "We introduce a new solution concept for 2-person bargaining problems, which can be considered as the dual of the Equal-Area solution (EA) (see Anbarcı and Bigelow (1994)). Hence, we call it the Dual Equal-Area solution (DEA). We show that the point selected by the Kalai–Smorodinsky solution (see Kalai and Smorodinsky (1975)) lies in between those that are selected by EA and DEA. We formulate an axiom–area-based fairness–and offer three characterizations of the Kalai–Smorodinsky solution in which this axiom plays a central role.",

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AB - We introduce a new solution concept for 2-person bargaining problems, which can be considered as the dual of the Equal-Area solution (EA) (see Anbarcı and Bigelow (1994)). Hence, we call it the Dual Equal-Area solution (DEA). We show that the point selected by the Kalai–Smorodinsky solution (see Kalai and Smorodinsky (1975)) lies in between those that are selected by EA and DEA. We formulate an axiom–area-based fairness–and offer three characterizations of the Kalai–Smorodinsky solution in which this axiom plays a central role.

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KW - Bargaining problem

KW - Dual bargaining problem

KW - Egalitarianism

KW - Equal-area solution

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Duality, area-considerations, and the Kalai–Smorodinsky solution

Abstract

Bibliographical note

Keywords

ASJC Scopus subject areas

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