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Author: Arwed Crüger
Publisher: Duncker & Humblot
ISBN: 9783428507412
Category : Business & Economics
Languages : en
Pages : 180
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Book Description
Two new bargaining games, called "Freedom to Punish (FTP)" and "Right and Choice to Punish (RAP)", are developed, analyzed and tested by means of an experimental implementation. Hypotheses about behavior are developed, discussed and tested. The central hypotheses are aimed at the importance of freedom of choice, on the difference between the FTP game and the RAP game, and on the crowding-out of intrinsic motivation. As might have been expected, fairness plays a role in both games, represented by the frequent appearances of equal splits as well as by the frequent rejections of unfair offers.In addition to that, fairness was crowded out by the new Institution of a veto power decision, confirming the importance of the institutional setting for behavior. Contrary to the few veto power sales in the RAP game, an amazingly high number of receivers refrained from veto power in the FTP game. This significant difference has clearly been attributed to the different information conditions and the existence of a bonus. This bonus can be interpreted in terms of freedom of choice, and exploits a value for the freedom to choose for the first time in experimental economics.
Author: Arwed Crüger
Publisher: Duncker & Humblot
ISBN: 9783428507412
Category : Business & Economics
Languages : en
Pages : 180
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Book Description
Two new bargaining games, called "Freedom to Punish (FTP)" and "Right and Choice to Punish (RAP)", are developed, analyzed and tested by means of an experimental implementation. Hypotheses about behavior are developed, discussed and tested. The central hypotheses are aimed at the importance of freedom of choice, on the difference between the FTP game and the RAP game, and on the crowding-out of intrinsic motivation. As might have been expected, fairness plays a role in both games, represented by the frequent appearances of equal splits as well as by the frequent rejections of unfair offers.In addition to that, fairness was crowded out by the new Institution of a veto power decision, confirming the importance of the institutional setting for behavior. Contrary to the few veto power sales in the RAP game, an amazingly high number of receivers refrained from veto power in the FTP game. This significant difference has clearly been attributed to the different information conditions and the existence of a bonus. This bonus can be interpreted in terms of freedom of choice, and exploits a value for the freedom to choose for the first time in experimental economics.
Author: Christian Korth
Publisher: Springer Science & Business Media
ISBN: 3642022537
Category : Business & Economics
Languages : en
Pages : 175
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Book Description
This book focuses on economic bargaining theory. Economic bargaining theory seeks to predict the outcomes of bargaining situations. In such situations, govern ments, ?rms, or individuals share a mutual interest in cooperation; however, they also have con?icting interests regarding the terms of an agreement. A classic ex ample of such a situation is wage bargaining between unions and employers. More commonplace examples also exist. For instance, a discussion between partners on how to spend an evening can be understood as a bargaining situation. Economic bargaining theory explores the relationship between bargaining situ ations and the outcomes of the bargaining. Economists have two primary reasons to show interest in this relationship. The ?rst reason is that many important human interactions, including economic interactions, are bargaining situations. The second reason is that the understanding of these situations may inform the economic theory of markets. The tool utilized in this study is the mathematical theory of games. Predictions for bargaining outcomes are developed by modeling the bargaining situation as a strategic game and using game theoretic equilibrium concepts in order to solve the game. In this approach, the speci?c identi?ed bargaining outcome depends on the assumptions underlying the model. The neoclassical and fundamental assumption is that of rational agents—called economic men—who strive to maximize their utility based on stable preferences.
Author: Carlo Carraro
Publisher: World Bank Publications
ISBN: 5061610121
Category : Bargaining
Languages : en
Pages : 55
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Book Description
Abstract: Bargaining is ubiquitous in real life. It is a major dimension of political and business activities. It appears at the international level, when governments negotiate on matters ranging from economic issues (such as the removal of trade barriers), to global security (such as fighting against terrorism) to environmental and related issues (such as climate change control). What factors determine the outcomes of such negotiations? What strategies can help reach an agreement? How should the parties involved divide the gains from cooperation? With whom will one make alliances? The authors address these questions by focusing on a noncooperative approach to negotiations, which is particularly relevant for the study of international negotiations. By reviewing noncooperative bargaining theory, noncooperative coalition theory, and the theory of fair division, they try to identify the connections among these different facets of the same problem in an attempt to facilitate progress toward a unified framework.
Author: Carlo Carraro
Publisher:
ISBN:
Category :
Languages : en
Pages : 57
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Book Description
Bargaining is ubiquitous in real-life. It is a major dimension of political and business activities. It appears at the international level, when governments negotiate on matters ranging from economic issues (such as the removal of trade barriers), to global security (such as fighting against terrorism) to environmental and related issues (e.g. climate change control). What factors determine the outcome of negotiations such as those mentioned above? What strategies can help reach an agreement? How should the parties involved divide the gains from cooperation? With whom will one make alliances? This paper addresses these questions by focusing on a non-cooperative approach to negotiations, which is particularly relevant for the study of international negotiations. By reviewing non-cooperative bargaining theory, non-cooperative coalition theory, and the theory of fair division, this paper will try to identify the connection among these different facets of the same problem in an attempt to facilitate the progress towards a unified framework.
Author: Carlo Carraro
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Bargaining is ubiquitous in real life. It is a major dimension of political and business activities. It appears at the international level, when governments negotiate on matters ranging from economic issues (such as the removal of trade barriers), to global security (such as fighting against terrorism) to environmental and related issues (such as climate change control). What factors determine the outcomes of such negotiations? What strategies can help reach an agreement? How should the parties involved divide the gains from cooperation? With whom will one make alliances? The authors address these questions by focusing on a noncooperative approach to negotiations, which is particularly relevant for the study of international negotiations. By reviewing noncooperative bargaining theory, noncooperative coalition theory, and the theory of fair division, they try to identify the connections among these different facets of the same problem in an attempt to facilitate progress toward a unified framework.
Author: K. G. Binmore
Publisher:
ISBN:
Category : Game theory
Languages : en
Pages : 52
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Book Description
Author: Daniel Keniston
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This paper uses detailed data on sequential offers from seven vastly different real-world bargaining settings to document a robust pattern: agents favor offers that split the difference between the two most recent offers on the table. Our settings include negotiations for used cars, insurance injury claims, a TV game show, auto rickshaw rides, housing, international trade tariffs, and online retail. We demonstrate that this pattern can arise in a perfect Bayesian equilibrium of an alternating-offer game with two-sided incomplete information, but this equilibrium is far from unique. We then provide a robust-inference argument to explain why agents may view the two most recent offers as corresponding to the potential surplus. Split-the-difference offers under this weaker, robust inference can then be viewed as fair. We present a number of other patterns in each data setting that point to split-the-difference offers as a strong social norm, whether in high-stakes or low-stakes negotiations.
Author: Sigbjørn Birkeland
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Cecilia Albin
Publisher: Cambridge University Press
ISBN: 9780521797252
Category : Law
Languages : en
Pages : 286
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Book Description
International negotiations have become an increasingly widespread feature of international affairs, as the number of parties involved have grown, and regional and global fora have multiplied. Cecilia Albin examines the role of considerations of justice and fairness in these negotiations. She argues that negotiators do not simply pursue their narrow interests or those of their countries, but regularly take principles of justice and fairness into account. These principles come into play at an early stage, as talks are structured and agendas set; in the bargaining process itself; and in the implementation of and compliance with agreements. The analysis is based on cases in four important areas: the environment; international trade; ethnic conflict (the Israeli-Palestinian conflict); and arms control. Drawing on a mass of empirical data, including a large number of interviews, this book relates the abstract debate over international norms and ethics to the realities of international relations.
Author: Paul Willman
Publisher: Oxford University Press, USA
ISBN:
Category : Business & Economics
Languages : en
Pages : 216
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Book Description
Study of wages fairness, collective bargaining behaviour and incomes policy in the UK - based on case studies (1976 and 1977) of two bargaining units, discusses wage differentials, wage increases, differences in wage determination methods, employees attitudes and the role of the trade unions (AUEW) and shop stewards. Bibliography, graphs, questionnaire and statistical tables.
