Article ID: | iaor20112366 |
Volume: | 70 |
Issue: | 4 |
Start Page Number: | 529 |
End Page Number: | 546 |
Publication Date: | Apr 2011 |
Journal: | Theory and Decision |
Authors: | Tutic Andreas, Pfau Stefan, Casajus Andr |
Keywords: | experiment |
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.