provided by a person with opposing interests? There is no direct evidence for such adversarial anchoring in bargaining, where … present proposers in an ultimatum bargaining setting with a signal that is either randomly determined (an anchor), or chosen … by a bargaining counterpart or relevant third party, with or without private information. Signals are found to affect …

ultimately not formed. Articulation of hypothetical outside options in the bargaining process determines the relative bargaining …