Jakob Kapeller, Stefan Steinerberger,
"Stability , fairness and random walks in the bargaining problem"
, in Physica A: Statistical Mechanics and its Applications, Vol. 488, Elsevier, Seite(n) 60-71, 12-2017, ISSN: 1873-2119
Stability , fairness and random walks in the bargaining problem
Sprache des Titels:
We study the classical bargaining problem and its two canonical solutions, (Nash and Kalai?Smorodinsky), from a novel point of view: we ask for stability of the solution if both players are able distort the underlying bargaining process by reference to a third party (e.g. a court). By exploring the simplest case, where decisions of the third party are made randomly we obtain a stable solution, where players do not have any incentive to refer to such a third party. While neither the Nash nor the Kalai?Smorodinsky solution are able to ensure stability in case reference to a third party is possible, we found that the Kalai?Smorodinsky solution seems to always dominate the stable allocation which constitutes novel support in favor of the latter.
Sprache der Kurzfassung:
Physica A: Statistical Mechanics and its Applications