bargaining solution

A bargaining solution is a method used to determine how two or more parties can fairly divide a resource or benefit they both want. It considers each party’s needs, preferences, and bargaining power to arrive at a mutually acceptable agreement. The goal is to find a fair and balanced outcome that maximizes joint benefit while respecting each party’s interests. Think of it as a way to negotiate how a shared prize or benefit is split so everyone feels the outcome is fair and satisfactory.