We examine the relations between recent board declassifications, takeover activity and takeover gains over the period 2003-2011. We report that firms that declassified their boards in the previous five years are more likely to be the target of a takeover than other firms. We also report that...

This paper investigates the issue of strategic delegation by considering the role of management centrality in contracting with different stakeholders. Specifically, a sequential negotiation unionized duopoly model is analysed, in which the management relative bargaining power visà-vis...

The decision of the Court of Appeal in the unconscionable bargain case of Nicols v Jessup [1986] BCL 1573 helps to clarify the approach which New Zealand courts should take on unconscionability cases in light of the Privy Council decision in O'Connor v Hart [1985] 1 NZLR 159

We provide a theoretical framework for understanding tacit agreements — agreements that are spontaneously understood even if they are not explicitly stated. To examine tacit agreements, we develop a general formal account of “virtual bargaining” — a mode of reasoning that joins elements...

In alternating-offer bargaining, a seller is "stubborn" if she demands the same asking price more than once. We provide empirical evidence on stubbornness and inform the theoretical literature by analyzing millions of eBay bargaining threads taken from Backus et al. (2020). Focusing on the best...