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these new concepts via an application in the narrow welfarist framework of two person cooperative bargaining. There we … provide in a socio-legal system based on Nash’s demand game an implementation of the Nash bargaining solution in Debreu …
Persistent link: https://www.econbiz.de/10014497503
We propose a bargaining process supergame over the strategies to play in a non-cooperative game. The agreement reached … by players at the end of the bargaining process is the strategy profile that they will play in the original non … existence, uniqueness, and efficiency of the agreement reachable through this bargaining process. We illustrate the consequences …
Persistent link: https://www.econbiz.de/10011709852
The Nash program is an important research agenda initiated in Nash (Econometrica 21:128-140, 1953) in order to bridge the gap between the noncooperative and cooperative counterparts of game theory. The program is thus turning sixty-seven years old, but I will argue it is not ready for...
Persistent link: https://www.econbiz.de/10014496060
Using a unique experimental data set, we investigate how asymmetric legal rights shape bargainers' aspiration levels through moral entitlements derived from equity norms and number prominence. Aspiration formation is typically hard to observe in real life. Our study involves 15 negotiations from...
Persistent link: https://www.econbiz.de/10011852710
of complementary patents. In this context, we study how the allocation of bargaining power between principal and agents … completion, efficiency requires concentrating bargaining power in the principal. Strengthening the bargaining position of the … or discriminatory offers. When this collective action problem is severe enough, agents are better off when bargaining …
Persistent link: https://www.econbiz.de/10014537034
probability of negotiation breakdown in a bargaining protocol whose sequential equilibrium implements the optimal mechanism. …
Persistent link: https://www.econbiz.de/10011599549
Costly delay in negotiations can induce the negotiating parties to be more forthcoming with their information and improve the quality of the collective decision. Imposing a deadline may result in stalling, in which players at some point stop making concessions but switch back to conceding at the...
Persistent link: https://www.econbiz.de/10011599465
A key to the Coase conjecture is the monopolist's inability to commit to a price, which leads consumers to believe that a high current price will be followed by low future prices. This paper studies the robustness of the Coase conjecture with respect to these beliefs of consumers. In particular,...
Persistent link: https://www.econbiz.de/10011599414
In a moneyless market, a non storable, non transferable homogeneous commodity is reallocated between agents with single-peaked preferences. Agents are either suppliers or demanders. Transfers between a supplier and a demander are feasible only if they are linked, and the links form an arbitrary...
Persistent link: https://www.econbiz.de/10011599466
We set up a rich bilateral bargaining model with four salient points (disagreement point, ideal point, reference point … determined. This model allows us to compare two bargaining solutions that use reference points, the Gupta-Livne solution and the … solutions place on the disagreement point do not directly imply a unique efficiency ranking in this bargaining problem with a …
Persistent link: https://www.econbiz.de/10011709845