Narrow search
Showing 1 - 10 of 17,630
Cover Image
Contract Adjustment Under Uncertainty
Holden, Lars; Holden, Helge; Holden, Steinar - 2021
Consider a contract over trade in continuous time between two players, according to which one player makes a payment to the other in exchange for an exogenous service. At each point in time, either player may unilaterally require an adjustment to the contract payment, involving adjustment costs...
Persistent link: https://www.econbiz.de/10013318477
Cover Image
Negotiation Strategies and Uncertainty in Auditor-Client Negotiations
Brocard, Marcus - 2013
This paper complements the existing literature on auditor-client negotiations by providing insights on the auditors' and clients' preferences for distributive negotiation strategies in an economic setting where negotiations may fail even if a common negotiation range exists. The analysis reveals...
Persistent link: https://www.econbiz.de/10013086968
Cover Image
The Efficiency of Negotiations with Uncertainty and Multi-Dimensional Deals
Jackson, Matthew O. - 2020
We develop a theory of negotiation in which deals have multiple dimensions that can be bundled together. We use theory and experiments to show that in such settings efficient trade is possible even with substantial asymmetric information. The benefits of identifying areas of mutual gain guide...
Persistent link: https://www.econbiz.de/10012852563
Cover Image
Final-Offer Arbitration with Uncertainty Averse Parties
Çelen, Boğaçhan - 2016
Final-offer arbitration (FOA) is a widely used binding dispute resolution mechanism, where an impartial arbitrator is constrained to choose one of the two final offers pro- posed by two disputing parties. We build an equilibrium model of FOA with agents averse to arbitral uncertainty to study...
Persistent link: https://www.econbiz.de/10012999805
Cover Image
Dissolving an ambiguous partnership
Oechssler, Joerg; Roomets, Alex - 2023
by a draw from an Ellsberg urn. In a within-subject experiment, subjects make decisions in three different bargaining … mechanisms: unstructured bargaining, the Texas shoot-out, and a K + 1 auction. We find that the K +1 auction is the most e¢ cient … mechanism, which is in line with theory. Free format bargaining yields a surprising number of disagreements, which are not …
Persistent link: https://www.econbiz.de/10014380287
Cover Image
A Note on Risk Aversion and Evolution to Equilibrium in 2x2 Coordination Games
Agastya, Murali; Basov, Suren - 2006
In this note we point out the effect of risk-aversion on both the speed of deterministic convergence and the waiting times involved in equilibrium selection in 2 X 2 coordination games. Risk-aversion destabilizes the Pareto optimal equilibrium in two different ways: it decreases the size of its...
Persistent link: https://www.econbiz.de/10014073945
Cover Image
Risk Aversion in the Nash Bargaining Problem with ISHARA Utility Functions
Li, Sanxi; Yan, Jianye; Sun, Hailin - 2012
analyze the comparative statics properties of a bargaining model with uncertainty. We identify sufficient and necessary …
Persistent link: https://www.econbiz.de/10014170653
Cover Image
Negotiating Risks : Sources of Uncertainty and the Impact of Reference Points on Concession-Making and Settlements
Bottom, William P. - 1997
demonstrating that reference dependent shifts in risk attitude are essential to a descriptive theory of bargaining …
Persistent link: https://www.econbiz.de/10014060711
Cover Image
Uncertainty in Conflicts
Prada Sarmiento, Juan David - 2010
This paper theoretically assesses the role that uncertainty plays in the intensity of conflicts. The standard two-player rent-seeking contest model (Tullock, 1980) is extended to allow for privately known subjective values of the prize. The conflict is modeled as a Bayesian game on which each...
Persistent link: https://www.econbiz.de/10013136257
Cover Image
Voluntary contributions with risky and uncertain marginal returns: The importance of the minimal value
Levati, Maria Vittoria; Morone, Andrea - 2009
Previous research indicates that risky and uncertain marginal returns from the public good significantly lower contributions. This paper presents experimental results illustrating that the effects of risk and uncertainty depend on the employed parameterization. Speci?cally, if the value of the...
Persistent link: https://www.econbiz.de/10010275042