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In the hold-up problem incomplete contracts cause the proceeds of relation-specific investments to be allocated by ex-post bargaining. The present paper investigates the efficiency of incomplete contracts if individuals have heterogeneous preferences implying heterogeneous bargaining behavior...
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-serving biases concerning their fairness judgements. Moreover, psychological literature suggests that this can be a driving force of …
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claims acquired in the past seem to create strong entitlements that shape current negotiations. Despite their importance, the … role of entitlements in negotiations has not received much attention. We fill the gap by designing an experiment that …
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In the hold-up problem incomplete contracts cause the proceeds of relation specific investments to be allocated by ex-post bargaining. The present paper investigates the efficiency of incomplete contracts if individuals have heterogeneous preferences implying heterogeneous bargaining behavior...
Persistent link: https://www.econbiz.de/10002812571
Persistent link: https://www.econbiz.de/10002911446