New (Simplified) Derivation of Nash's Bargaining Solution

Authors

Nguyen Hoang Phuong, Thang Long UniversityFollow
Laxman Bokati, The University of Texas at El PasoFollow
Vladik Kreinovich, The University of Texas at El PasoFollow

Publication Date

3-2020

Comments

Technical Report: UTEP-CS-20-16

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.