We model takeovers as a bargaining process and explain termination fees for, both, the target and the acquirer, subject … to parties’ bargaining power and outside options. In equilibrium, termination fees are offered by firms with outside … options in exchange for a greater share of merger synergies. Termination fees decrease in firms’ bargaining power, and …

We model takeovers as a bargaining process and explain the existence and net effect of target as well as bidder … termination fees, subject to bargaining power and outside options. In equilibrium, net termination fees (target minus acquirer … fees) are offered by firms with a superior bargaining position in exchange for a greater share of merger synergies. This …

We analyze the effect of liquidated damage rules in exclusive contracts that are negotiated in a sequential bargaining … bargaining power influence the size of the payment of damages and determine which contractual party benefits from including …

prices and increasingprofits. Welfare falls because of the uncertainty in the bargaining process, which generates …

This paper investigates the effect of potential competition on takeovers which we model as a bargaining game with …

This paper investigates the effect of potential competition on takeovers which we model as a bargaining game with …

This paper provides strategic foundations for the insight that the bargaining power of employees depends on the firm … bargaining (i.e. the negotiators’ fall-back positions and outside options); they affect the nature of the bargaining process …

pricing and bargaining when price takers buy at posted prices but bargainers attempt to negotiate discounts.  The optimal … bargaining strategy involves the firms offering bargainers randomly-sized discounts.  Competing firms keep posted prices high to …' strategic decision about how much bargaining discretion sales staff should be allowed.  Both firms allowing full bargaining …

(theoretically) that adding search to a simple bargaining mechanism eliminates some unsatisfactory features of bargaining theory. Our …

This paper provides strategic foundations for the insight that the bargaining power of employees depends on the firm … bargaining (i.e., the negotiators' alternatives to bargaining (i.e., the negotiatior's fall back positions and outside options …): they affect the nature of the bargaining process itself. This approach leads to a new theory of wage determination. …