BARGAINING UNDER UNCERTAINTY AND THE MONOTONE PATH SOLUTIONS

Uncertainty with respect to the feasible set of utility vectors is int roduced in an axiomatic bargaining model. Given a criterion for nonpro babilistic decision-making under uncertainty, a natural efficiency req uirement can be imposed on a bargaining solution. Using the maximin or dering, the strictly monotone path solutions (generalizations of the e galitarian solution) to the bargaining problem are characterized as th e only continuous solutions that satisfy this efficiency axiom. If the maximin criterion is replaced by the maximax ranking or a strict conv ex combination of the maximin and the maximax criterion, imposing our efficiency axiom and continuity leads to the dictatorial solutions. (C ) 1996 Academic Press, Inc.