Experiments on bilateral bargaining in markets

Experiments on bilateral bargaining in markets

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Article ID: iaor20112366
Volume: 70
Issue: 4
Start Page Number: 529
End Page Number: 546
Publication Date: Apr 2011
Journal: Theory and Decision
Authors: , ,
Keywords: experiment
Abstract:

We present experimental data on a simple market game. Several solution concepts from cooperative game theory are applied to predict the observed payoff distributions. Notably, a recently introduced solution concept meant to capture the influence of outside options on the payoff distribution within groups fares better than most other solution concepts under consideration. Our results shed some light on the effects of scarcity relations on markets on bargaining outcomes within negotiating dyads.

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