Generalized maximin solutions in multicriteria bargaining

Generalized maximin solutions in multicriteria bargaining

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Article ID: iaor2006303
Country: Netherlands
Volume: 137
Issue: 1
Start Page Number: 243
End Page Number: 255
Publication Date: Jul 2005
Journal: Annals of Operations Research
Authors: , ,
Keywords: decision theory: multiple criteria
Abstract:

In this paper we address bargaining games where the agents have to take into account different criteria to value the decisions. We propose the class of generalized maximin solutions, as the natural extension for these games of the maximin solutions in conventional bargaining. In order to refine this solution concept, we define a multicriteria lexicographic partical ordering and present the class of generalized leximin solutions as those that are nondominated with respect to this relation. We establish some properties of these solutions and characterize them as solutions of multicriteria problems.

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