Sieberg, Katri; Clark, David; Holt, Charles A.; … - In: Games 4 (2013) 3, pp. 375-397
Demands and concessions in a multi-stage bargaining process are shaped by the probabilities that each side will prevail in an impasse. Standard game-theoretic predictions are quite sharp: demands are pushed to the precipice with nothing left on the table, but there is no conflict regardless of...