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n the analysis of value capture, it is central to understand what value each group of players can capture when leaving the negotiation table. Frequently, this will entail engaging in competition, i.e., non-negotiated, strategic interactions with the other players. For instance, if merger talks...
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Why do contests exist in settings where negotiation provides a costless alternative? I assess a new explanation: parties may be overconfident about their ability or optimistic about their chances of winning. For both parties in a contest, this hubris: (i) reduces the incentive to exit the...
Persistent link: https://www.econbiz.de/10012052378
I analyze a dynamic model of concurrent bargaining in which multiple long-lived prospective buyers compete to trade with a long-lived seller over two periods. The paper investigates how offer confidentiality and buyer participation affect bargaining dynamics within this framework. When buyers’...
Persistent link: https://www.econbiz.de/10014237060
We show the robustness of the Walrasian result obtained in models of bargaining in pairwise meetings. Restricting trade to take place only in pairs, most of the assumptions made in the literature are dispensed with. These include assumptions on preferences (differentiability, monotonicity,...
Persistent link: https://www.econbiz.de/10014116973
This paper investigates the effects of mergers, entry, and exit in retail markets when input prices are negotiated. Results are derived from a model of bilateral Nash-bargaining between manufacturers and retailers which allows for general forms of demand and retail competition. Whether...
Persistent link: https://www.econbiz.de/10011334106
We model mortgage refinancing as a bargaining game involving the borrowing household, the incumbent lender, and an outside bank. In equilibrium, the borrower's ability to refinance depends both on the competitiveness of the local banking market and on the cost of switching banks. We find...
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