Most contributions in axiomatic bargaining are phrased in the space of utilities. This comes in sharp contrast with standards in most other branches of economic theory. The present paper shows how Nash’s original axiomatic system can be rephrased in a natural class of economic environments...

An auction is viewed as a process that in equilibrium generates a binary lottery for each bidder, which the bidder "buys" with his bid. This view allows for a simple way to consistently assess differences in bidding behavior over different bidders and different auctions. E.g. all auctions...