This paper analyzes the incentives of the members of a committee to acquire skills, when they will share a fixed budget among them in ex-post negotiations. Skills are interpreted as the ability to manage a collective budget, in the sense that shares assigned to skilled agents generate positive...

We consider a model with three players in which one of them has the possibility to make a relationship-specific investment which produces an innovation. The innovation affects only the payoff of the other two players - hence, a cooperative innovation. We show that, in some cases, the presence of...

This paper analyzes the investment decisions of the members of a committee when a subsequent bargaining process determines the distribution of a divisible good among them. The shares allocated to investing agents generate positive consumption externalities. We show that agents’ investments...

In this paper we consider infinite horizon multilateral bargaining with alternate offers. We prove that there exists only one stationary subgame perfect equilibrium outcome and it corresponds to the unique invariantmeasure of a column stochastic matrix. We characterize this stationary subgame...

We examine laboratory bargaining experiments with symmetric and asymmetric delay costs and options for proposers to credibly commit to a bargaining position. Contrary to standard game-theoretic predictions, our experimental results suggest that commitment can be used effectively to increase the...

We analyze a complete information multilateral bargaining model in which a buyer is to purchase two complementary goods from two sellers. Binding cash-offer contracts are used to govern transactions. In contrast to preexisting literature, we do not normalize the parties' reservation utilities to...

Consider a multilateral bargaining problem where negotiation is conducted by a sequence of bilateral bargaining sessions. We are interested in an environment where bargaining protocols are determined endogenously. During each bilateral bargaining session of Rubinstein (1982), two players...

A class of bargaining games in which agents bargain over prices and maximum trading constraints is considered: It is proved that all the Stationary Subgame Perfect Equilibria of these games implement Walrasian allocations as the bargaining frictions vanish. The result holds for any number of...