Axiomatic Theory of Bargaining with a Variable Number of Agents

Axiomatic Theory of Bargaining with a Variable Number of Agents

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This book extrapolates on the Nash (1950) treatment of the bargaining problem to consider the situation where the number of bargainers may vary.In this book, Professor Thomson and Professor Lensberg extrapolate upon the Nash (1950) treatment of the bargaining problem to consider the situation where the number of bargainers may vary. The authors formulate axioms to specify how solutions should respond to such changes, and provide new characterizations of all the major solutions as well as generalizations of these solutions. The book also contains several other comparative studies of solutions i...