Unraveling the Nash Bargaining Theory
9 Pages Posted: 12 Dec 2009 Last revised: 4 Sep 2015
Date Written: December 11, 2009
Abstract
Nash (1950) proposes a bargaining theory. This paper proves that Nash’s theory is not about bargaining, but is the result of exchange. Exchange also requires bargaining, but exchange itself is not bargaining.
Keywords: Game, Bargaining, Comparative Advantage, Terms of Trade
JEL Classification: C78, F11
Suggested Citation: Suggested Citation
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