Download This PaperNash's Unfair Bargaining Theory
5 Pages Posted: 4 Sep 2015
Date Written: September 4, 2015
Abstract
Nash (1950) proposes a bargaining theory. This paper proves that Nash’s theory leads to unfair result. The reason for the wrong conclusion is his use of utility. This paper then recommends the old Jewish method described in Talmud for fairer solution.
Keywords: Game, Bargaining, Inequality
JEL Classification: C78, F11
Suggested Citation: Suggested Citation
Choi, Hak, Nash's Unfair Bargaining Theory (September 4, 2015). Available at SSRN: https://ssrn.com/abstract=2655944 or http://dx.doi.org/10.2139/ssrn.2655944
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