Reasoning about Bargaining Situations

This paper presents a logical axiomatization of bargaining solutions. A bargaining situation is described in propositional logic and the bargainers’ preferences are quantified in terms of the logical structure of the bargaining situation. A solution to the n-person bargaining problems is proposed based on the maxmin rule over the degrees of bargainers’ satisfaction. We show that the solution is uniquely characterized by four natural and intuitive axioms as well as three other fundamental assumptions. All the axioms and assumptions are represented in logical statements and most of them have a game-theoretic counterpart. The framework would help us to identify the logical and numerical reasoning behind bargaining processes.

Authors

• Dongmo Zhang

Keywords

No keywords are indexed for this paper.