Nash bargaining solution with coalitions and the joint bargaining paradox
Abstract: "The authors propose a solution for bargaining problems where coalitions are bargainers. The solution generalizes the Nash solution and allows one to interpret a coalition as an institutional player whose preferences are obtained by...
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Abstract: "The authors propose a solution for bargaining problems where coalitions are bargainers. The solution generalizes the Nash solution and allows one to interpret a coalition as an institutional player whose preferences are obtained by aggregating the preferences of the individual members. One implication of the solution is that forming a coalition is unprofitable in pure-bargaining situations (the joint-bargaining paradox). The authors show, however, that forming a coalition can be profitable in a non-pure bargaining situation." (author's abstract)
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