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When selling a home, an important decision facing the homeowner is choosing an optimal listing price. This decision … will depend in large part on how the chosen list price impacts the post negotiation final sale price of the home. In this … study, we design an experiment that enables us to identify how different types of common list price strategies affect …
Persistent link: https://www.econbiz.de/10013006608
We consider bargaining in a bipartite network of buyers and sellers, who can only trade with the limited number of people with whom they are connected. Such networks could arise due to proximity issues or restricted communication flows, as with information transmission of job openings, business...
Persistent link: https://www.econbiz.de/10014142824
Behavioral and economic analysis of law fundamentally depends on understanding what motivates individual actors. While it is often assumed that people care only about maximizing their own monetary payoff, recent experimental work has challenged this assumption. A canonical example involves...
Persistent link: https://www.econbiz.de/10014166293
We report experimental data from bargaining situations where bargainers can make proposals as often and whenever they want, and can communicate via written messages. We vary the set of feasible contracts, thereby allowing us to assess the focality of three properties of bargaining outcomes:...
Persistent link: https://www.econbiz.de/10011384455
This paper aims to contribute to the literature on Nash program by experimentally comparing the results of "structured" (non-cooperative) demand-based and offer-based mechanisms that implement the Shapley value as an ex-ante equilibrium outcome with the results of corresponding "semi-structured"...
Persistent link: https://www.econbiz.de/10014451922
The Coase theorem posits: If [1] property rights are perfect, [2] contracts are enforceable, [3] preferences are common knowledge, and [4] transaction costs are zero, then the initial alloca-tion of property rights only matters for distribution, not for efficiency. In this paper we claim that...
Persistent link: https://www.econbiz.de/10011397620
This paper reports results from a laboratory experiment studying the role of asymmetries, both in payoffs and recognition probabilities, in a model of strategic bargaining with Condorcet cycles. Overall, we find only limited support for the equilibrium predictions. The main deviations from...
Persistent link: https://www.econbiz.de/10010532580
We study the influence of gender and gender pairing on economic decision making in an experimental two-person bargaining game where the other party's gender is known to both actors. We find that (1) gender per se has no significant effect on behavior, whereas (2) gender pairing systematically...
Persistent link: https://www.econbiz.de/10009733218
In an experiment on a subjective claims problem we compare three unanimity bargaining procedures - the Demand, the Offer and the Exit variant - in terms of fairness and efficiency. To assess the fairness of the allocations obtained by these procedures, we evaluate them from a partial point of...
Persistent link: https://www.econbiz.de/10010194818
that more information induces lower (higher) price offers and acceptance thresholds when the pie is small (large). While …
Persistent link: https://www.econbiz.de/10011458465