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| Authors | P.P. Wakker, R. de Koster, H.J.M. Peters, S.H. Tijs | | Title | Risk sensitivity, independence of irrelevant alternatives and continuity of bargaining solutions |
| Journal | Mathematical social sciences |
| Volume | 4 |
| Year | 1983 |
| Pages | 295-300 |
| ISSN | 01654896 |
| Faculty | Faculty of Economics and Business |
| Institute/dept. | FEB: Research Institute in Economics and Econometrics Amsterdam (RESAM) |
| Keywords | Decision-making; Mathematical methods; Risk; Negotiations |
| Abstract | Bargaining solutions are considered which have the following four properties: individual rationality, Pareto optimality, independence of equivalent utility representations, and independence of irrelevant alternatives. A main result of this paper is a simple proof of the fact that all such bargaining solutions are risk sensitive. Further a description is given of all bargaining solutions satisfying the four mentioned properties. Finally, a continuous bargaining solution, satisfying the first three properties, is given which is not risk sensitive. |
| Document type | Article |
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