(DP 1985-04) An Extension of Fairness in Nash

Abstract

The Symmetry axiom which introduces a sense of fairness in the Nash axiom system for the 2-person allocation game does not apply to more general allowable utility spaces. We replace it within the "Minimized inequality axiom" which includes the symmetry axiom. We show that the Nash bargaining solution is robust against this replacement and by Nash's own uniqueness result, still remains unique.