| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5060410 | Economics Letters | 2012 | 4 Pages |
Abstract
⺠We introduce a new axiom named Proportional Concession Monotonicity (PCM). ⺠A concession is the foregoing of outcomes with payoffs exceeding some utility level. ⺠PCM imposes no player gains when all collectively make proportional concessions. ⺠PCM and 'Pareto Optimality' together characterize the leximin solution (Imai, 1983).
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Bram Driesen,