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Seminario RoDeO on the Road: A straightforward interpretation for the Nash bargaining solution

Mercoledì 25 Febbraio 2015, ore 14:00 - Aula 2BC60 - Marco Li Calzi

ARGOMENTI: Seminari

Mercoledì 25 Febbraio 2015 alle ore 14:00 in aula 2BC60, Marco Li Calzi (Dipartimento di Management, Venezia) terrà un seminario del ciclo RoDeO on the Road dal titolo "A straightforward interpretation for the Nash bargaining solution".

Abstract
We revisit the Nash model for two-person bargaining from a prescriptive viewpoint. An arbitrator knows agents’ ordinal preferences over feasible proposals, but has incomplete information about their acceptance thresholds. We provide a behavioural characterisation under which the arbitrator recommends a proposal to maximise the probability that bargainers strike an agreement. Some major solution concepts are recovered as special cases; most notably, we offer a direct interpretation for the product operator underlying the Nash solution.

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