| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5072982 | Games and Economic Behavior | 2007 | 9 Pages |
Abstract
A collective choice problem-essentially a bargaining problem without disagreement outcome-is studied. An extended solution, which determines a solution and a reference point simultaneously, is characterized. The unique extended solution that meets the extended versions of Pareto-optimality, independence of irrelevant alternatives, symmetry, and scale invariance maximizes the Nash product with respect to both the solution and the reference point.
Keywords
Related Topics
Social Sciences and Humanities
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Economics and Econometrics
Authors
Hannu Vartiainen,