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A Decision Maker (DM) must choose at discrete moments from a finite set of actions that result in random rewards. The environment is complex in that she finds it impossible to describe the states and is thus prevented from application of standard Bayesian methods. This paper presents an...
Persistent link: https://www.econbiz.de/10013160482
The problem of ex ante choice between conflict situations is studied in an axiomatic model where individuals know the available surplus but are ignorant of the exact bargaining procedure. Furthermore, allowing for side-payments in a single good, a bargaining solution that is immune to ordinal...
Persistent link: https://www.econbiz.de/10014067402