Bargaining without a Common Prior - An Immediate Agreement Theorem
Опубликовано на портале: 30-01-2007
Econometrica.
2003.
Vol. 71.
No. 3.
P. 793-811.
Тематический раздел:
In sequential bargaining models without outside options, each player's bargaining
power is ultimately determined by which player will make an offer and when. This
paper analyzes a sequential bargaining model in which players may hold different
beliefs about which player will make an offer and when. Excessive optimism about
making offers in the future can cause delays in agreement. The main result states
that, despite this, if players will remain sufficiently optimistic for a sufficiently
long future, then in equilibrium they will agree immediately. This result is also
extended to other canonical models of optimism.
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