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Negotiating with frictions
Britz, Volker - 2019 - This version: January 8, 2019
We consider bilateral non-cooperative bargaining on the division of a surplus. Compared to the canonical bargaining … game in the tradition of Rubinstein, we introduce additional sources of friction into the bargaining process … month, quarter, or year. Bargaining rounds are of non-trivial length, so that counter-offers may be made without triggering …
Persistent link: https://www.econbiz.de/10011962142
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The role of discounting in bargaining with one-sided offers
Dilmé, Francesc - 2021
rates. Our full characterization of equilibrium behavior permits studying how patience shapes the bargaining outcome. We …
Persistent link: https://www.econbiz.de/10012438413
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The role of discounting in bargaining with private information
Dilmé, Francesc - 2023
agents' discount rates (i.e., patience levels) shape the bargaining outcome. We find that the seller's commitment problem … he is more impatient, independently of his private valuation; hence, higher bargaining costs may give negotiators with … private information greater bargaining power. …
Persistent link: https://www.econbiz.de/10014441885
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Self-control and bargaining
Lu, Shih En - In: Journal of economic theory 165 (2016), pp. 390-413
Persistent link: https://www.econbiz.de/10011650114
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Models of limited self-control : comparison and implications for bargaining
Lu, Shih En - In: Economics letters 145 (2016), pp. 186-191
Persistent link: https://www.econbiz.de/10011618399
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Heterogeneous Discounting in Consumption-Investment Problems : Time-Consistent Solutions
de Paz, Albert - 2012
In this paper we analyze a stochastic continuous time model in finite horizon in which the agent discounts the instantaneous utility function and the final function at constant but different instantaneous discount rates of time preference. Within this context we can model problems in which, when...
Persistent link: https://www.econbiz.de/10013113639
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Repeated Games with Present-Biased Preferences
Chade, Hector - 2006
We study infinitely repeated games with observable actions, where players have present-biased (so-called beta-delta) preferences. We give a two-step procedure to characterize Strotz-Pollak equilibrium payoffs: compute the continuation payoff set using recursive techniques, and then use this set...
Persistent link: https://www.econbiz.de/10012783814
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Time-consistent resource management with regime shifts
Arvaniti, Maria; Krishnamurthy, Chandra K.; Crépin, … - 2019
We investigate how a resource user who is present-biased manages a renewable resource stock with variable growth that could undergo a reversible regime shift (an abrupt, persistent change in structure and function of the ecosystem supplying the resource). In a discrete-time quasihyperbolic...
Persistent link: https://www.econbiz.de/10012138111
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Uncertainty under hyperbolic discounting : the cost of untying your hands
Alcocer, Christian Diego; Ortegón, Julián; Roa, Alejandro - In: Journal of economics, finance & administrative science 24 (2019) 48, pp. 176-193
Purpose The relevance of present consumption bias on personal finance has been confirmed in several studies and has important theoretical and practical implications. It has important, measurable implications when analyzing commitment or self-control, adherence to healthy habits (e.g. exercising...
Persistent link: https://www.econbiz.de/10012128806
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Stochastic Discounting in Repeated Games : Awaiting the Almost Inevitable
Barlo, Mehmet - 2011
We study repeated games with pure strategies and stochastic discounting under perfect information, with the requirement that the stage game has at least one pure Nash action profile. Players discount future payoffs with a common, but stochastic, discount factor where associated stochastic...
Persistent link: https://www.econbiz.de/10013130679