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JACIII Vol.24 No.5 pp. 589-592
doi: 10.20965/jaciii.2020.p0589
(2020)

Paper:

A New (Simplified) Derivation of Nash’s Bargaining Solution

Hoang Phuong Nguyen*,†, Laxman Bokati**, and Vladik Kreinovich**,***

*Division Informatics, Math-Informatics Faculty, Thang Long University
Nghiem Xuan Yem Road, Hoang Mai District, Hanoi, Vietnam

**Computational Science Program, University of Texas at El Paso
500 West University Avenue, El Paso, Texas 79968, USA

***Department of Computer Science, University of Texas at El Paso
500 West University Avenue, El Paso, Texas 79968, USA

Corresponding author

Received:
March 4, 2020
Accepted:
April 15, 2020
Published:
September 20, 2020
Keywords:
group decision making, Nash’s bargaining solution, partial order
Abstract

According to the Nobelist John Nash, if a group of people wants to selects one of the alternatives in which all of them get a better deal than in a status quo situations, then they should select the alternative that maximizes the product of their utilities. In this paper, we provide a new (simplified) derivation of this result, a derivation which is not only simpler – it also does not require that the preference relation between different alternatives be linear.

Cite this article as:
H. Nguyen, L. Bokati, and V. Kreinovich, “A New (Simplified) Derivation of Nash’s Bargaining Solution,” J. Adv. Comput. Intell. Intell. Inform., Vol.24, No.5, pp. 589-592, 2020.
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References
  1. [1] J. F. Nash, Jr., “The Bargaining Problem,” Econometrica, Vol.18, Issue 2, pp. 155-162, 1950.
  2. [2] P. C. Fishburn, “Utility Theory for Decision Making,” John Wiley & Sons Inc., 1969.
  3. [3] V. Kreinovich, “Decision Making Under Interval Uncertainty (and Beyond),” P. Guo and W. Pedrycz (Eds.), “Human-Centric Decision-Making Models for Social Sciences,” pp. 163-193, Springer, 2014.
  4. [4] R. D. Luce and R. Raiffa, “Games and Decisions: Introduction and Critical Survey,” Dover, 1989.
  5. [5] H. T. Nguyen, O. Kosheleva, and V. Kreinovich, “Decision making beyond Arrow’s “impossibility theorem,” with the analysis of effects of collusion and mutual attraction,” Int. J. of Intelligent Systems, Vol.24, Issue 1, pp. 27-47, 2009.
  6. [6] H. Raiffa, “Decision Analysis: Introductory Lectures on Choices under Uncertainty,” McGraw-Hill College, 1997.

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Last updated on Dec. 01, 2020