Independence of irrelevant transfers
Abstract
In this paper, we provide a partial geometric characterization of the independence of irrelevant alternatives (IIM) Axiom, called Independence of Irrelevant Transfers (IIT) as also a characterization of the nash bargaining solution without the IIM Axiom. The characterization has been motivated by the work of shapley (1969) and thomson (1981) to a very great extent and contribute to the growing literature on bargaining solutions without the IIM Axiom.
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