Two impatient players bargain about the division of a pie under a standard bargaining protocol in discrete time with time-invariant recognition probabilities. Instantaneous utility is linear, but players discount the future by a constant factor. Before bargaining starts, a player can commit to a...

Suppose that a firm has several owners and that the future is uncertain in the sense that one out of many different states of nature will realize tomorrow. An owner''s time preference and risk attitude will determine the importance he places on payoffs in the different states. It is a...

Our work contributes to the game-theoretic analysis of bargaining by providing additional non-cooperative support to the well-known Nash bargaining solution. In particular, in the present paper we study a model of non-cooperative multilateral bargaining with a very general proposer selection...

We propose a new model to study the role of commitment as a sourceof strategic bargaining power. Two impatient players bargain aboutthe division of a pie under a standard bargaining protocol indiscrete time with time-invariant recognition probabilities.Instantaneous utility is linear, but...

Two impatient players bargain about the division of a pie under a standard bargaining protocol in discrete time with time-invariant recognition probabilities. Instantaneous utility is linear, but players discount the future by a constant factor. Before bargaining starts, a player can commit to a...

Suppose that a firm has several owners and that the future is uncertain in the sense that one out of many different states of nature will realize tomorrow. An owner''s time preference and risk attitude will determine the importance he places on payoffs in the different states. It is a...

We consider non-cooperative multilateral bargaining games with endogenous bargaining protocols.Under an endogenous protocol, the probability with which a player becomes the proposer in a roundof bargaining depends on the identity of the player who previously rejected. An important exampleis the...

This paper is concerned with the question of how to define the core when cooperation takes place in a dynamic setting. The focus is on dynamic cooperative games in which the players face a finite sequence of exogenously specified TU-games. Three different core concepts are presented: the...

This paper empirically tests the principal-agent model prediction that the use of performance measures for incentive purposes is affected by the agent’s risk aversion. We find that the use of both accounting and market performance measures in executive compensation contracts decreases as the...