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Solidarity and cooperative bargaining solutions

Naoki Yoshihara (2006)

Banach Center Publications

In this paper, we consider production economies with possibly unequal production skills and with the possibility of technological innovations, in which resource allocations are determined via bargaining among individuals. We define the Nash (resp. the Kalai-Smorodinsky) bargaining solution as the (bargaining) allocation rule whose utility outcomes just result in the Nash (resp. the Kalai-Smorodinsky) bargaining outcomes. Two new axioms regarding compensation for low skill agents are introduced as...

The Kurzweil integral in financial market modeling

Pavel Krejčí, Harbir Lamba, Giselle Antunes Monteiro, Dmitrii Rachinskii (2016)

Mathematica Bohemica

Certain financial market strategies are known to exhibit a hysteretic structure similar to the memory observed in plasticity, ferromagnetism, or magnetostriction. The main difference is that in financial markets, the spontaneous occurrence of discontinuities in the time evolution has to be taken into account. We show that one particular market model considered here admits a representation in terms of Prandtl-Ishlinskii hysteresis operators, which are extended in order to include possible discontinuities...

Wage bargaining with discount rates varying in time under different strike decisions

Ahmet ozkardas, Agnieszka rusinowska (2014)

RAIRO - Operations Research - Recherche Opérationnelle

We present a non-cooperative union-firm wage bargaining model in which the union must choose between strike and holdout if a proposed wage contract is rejected. The innovative element that our model brings to the existing literature on wage bargaining concerns the parties’ preferences which are not expressed by constant discount rates, but by sequences of discount factors varying in time. First, we determine subgame perfect equilibria if the strike decision of the union is exogenous. We analyze...

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