Economics, Econometrics and Finance
8 years ago

New solution revolutionizes bargaining problems with unknown parameters!

International Journal of Uncertainty Fuzziness and Knowledge-Based Systems
SOLUTION CONCEPT FOR A TWO PERSON BARGAINING PROBLEM WITH UNKNOWN PARAMETERS
Farida Achemine, Abdelkader Merakeb

Paper Summary

The article presents a solution for a bargaining problem between two people when the parameters are unknown. The solution is based on the Nash solution and the maxmin principle of Wald. The researchers also discuss the properties of this solution and conditions for its existence. They provide a procedure for determining the solution and offer an example to illustrate it.

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