An impossibility result concerningn-person bargaining games

In this note we show that a solution proposed byRaiffa for two-person bargaining games, which has recently been axiomatized byKalai/Smorodinsky, does not generalize in a straightforward manner to generaln-person bargaining games. Specifically, the solution is not Pareto optimal on the class of alln-person bargaining games, and no solution which is can possess the other properties which characterizeRaiffa's solution in the two-person case.