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We consider bargaining situations where two players evaluate outcomes with reference-dependent utility functions …, analyzing the effect of differing levels of loss aversion on bargaining outcomes. We find that as with risk aversion, increasing … loss aversion for a player leads to worse outcomes for that player in bargaining situations. An extension of Nash's axioms …
Persistent link: https://www.econbiz.de/10005118620
aversion (λ = 4:4) in the Qualified Majority rule in the Treaty of Lisbon, when understood as a Nash bargaining outcome. World …
Persistent link: https://www.econbiz.de/10012052869
aversion (λ = 4:4) in the Qualified Majority rule in the Treaty of Lisbon, when understood as a Nash bargaining outcome. World …
Persistent link: https://www.econbiz.de/10012038990
Persistent link: https://www.econbiz.de/10005709877
The paper investigates price formation in a decentralized market with random matching. Agents are assumed to have subdued social preferences: buyers, for example, prefer a lower price to a higher one but experience reduced utility increases below a reference price which serves as a common...
Persistent link: https://www.econbiz.de/10010294682
The paper investigates price formation in a decentralized market with random matching. Agents are assumed to have subdued social preferences: buyers, for example, prefer a lower price to a higher one but experience reduced utility increases below a reference price which serves as a common...
Persistent link: https://www.econbiz.de/10010294752
We show and explain how generosity beyond that explainable by social preferences can manifest in bargaining. We analyze … proposers coalesce with the less demanding party by strategically matching demands, like ultimatum bargaining, but also give non …
Persistent link: https://www.econbiz.de/10009323443
The paper investigates price formation in a decentralized market with random matching. Agents are assumed to have subdued social preferences: buyers, for example, prefer a lower price to a higher one but experience reduced utility increases below a reference price which serves as a common...
Persistent link: https://www.econbiz.de/10005163027
The paper investigates price formation in a decentralized market with random matching. Agents are assumed to have subdued social preferences: buyers, for example, prefer a lower price to a higher one but experience reduced utility increases below a reference price which serves as a common...
Persistent link: https://www.econbiz.de/10005163041
We seek to extend our understanding of bargaining preferences, and do so experimentally using the three-player demand … bargaining game. In this game, two non-proposers simultaneously state their demands, then the proposer offers, and at least one …
Persistent link: https://www.econbiz.de/10010737910