Bargaining and Value

Authors: 
Sergiu Hart & Andreu Mas-Colell
Abstract: 

We present and analyze a model of non-cooperative bargaining among n participants, applied to situations describable as games in coalitional form. This leads to a unified theory that has as special cases the Shapley value in the transferable utility case, the Nash bargaining solution in the pure bargaining case, and the recently introduced Maschler-Owen consistent value solution in the general (non-transferable utility) case.

Date: 
January, 1995
Published in: 
Econometrica 64 (1996), 357-380
Number: 
66