In this study we introduce two new properties, the Midpoint Outcome on a Linear Frontier (MOLF) and Balanced Focal Point (BFP) properties, to replace the Weak Pareto Optimality (WPO), Symmetry (SYM) and Independence of Equivalent Utility Representations (IEUR) properties in the axiomatic characterizations of the two most prominent solution concepts, namely the Nash and Kalai/Smorodinsky solutions, respectively.
Field of Research
150310 Organisation and Management Theory
Socio Economic Objective
970115 Expanding Knowledge in Commerce, Management, Tourism and Services
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