Between anchors and aspirations: a new family of bargaining solutions
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Date
2019
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Publisher
Springer
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Abstract
We study the salience and power of reference points in determining the effective anchors and aspirations in bargaining problems. Along this line we enrich the analysis of the standard bargaining model with two new parameters: the first parameter can be interpreted as the effectiveness (or salience) of the reference point in determining the anchor whereas the second parameter can be interpreted as its effectiveness in shaping agents' aspirations. Utilizing these parameters we provide a unifying framework for the study of bargaining problems with a reference point. The two-parameter family of bargaining solutions we obtain encompasses some well-known solutions as special cases. We offer multiple characterizations for each individual member of this family as well as two characterizations for the whole solution family in bilateral bargaining problems.
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Keywords
Anchors, Aspirations, Axiomatic approach, Bargaining problems, Bargaining solutions, Disagreement point, Reference point, C72, C78, D63, D74
Turkish CoHE Thesis Center URL
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Citation
6
WoS Q
Q4
Scopus Q
Q2
Source
Volume
23
Issue
Start Page
53
End Page
73