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Nash Sets Out Axioms Describing Characteristics That We Might Reasonably

Question 22

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Nash sets out axioms describing characteristics that we might reasonably expect to see in bargaining outcomes,when the parties to the bargain are rational.He supposes these axioms are fulfilled and examines their implications.More specifically,Nash suggests that a cooperative bargaining outcome should satisfy what five axioms?

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First,it should be efficient,because rat...

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