A central question in economics is understanding the difficulties that parties have in
reaching mutually beneficial agreements. Informational differences provide an appealing …

This advanced text introduces the principles of noncooperative game theory in a direct and
uncomplicated style that will acquaint students with the broad spectrum of the field while …

The paper develops a reputation based theory of bargaining. The idea is to investigate and
highlight the influence of bargaining 'postures' on bargaining outcomes. A complete …

BARGAINING is usually interpreted as the process of arriving at mutual agreement on the
provisions of a contract. In the economic realm, the prototype is exchange between a seller …

The role of strategic delay is analyzed in an infinite-horizon alternating-offer model of
bargaining. A buyer and seller are engaged in the trade of a single object. Both bargainers …

This paper presents a new data set of individual residential property transactions in
England. The main novelty of the data is the record of all listing price changes and all offers …

This paper studies a dynamic model of a financial market with N strategic agents. Agents
receive random stock endowments at each period and trade to share dividend risk …

A seller and a buyer bargain over the terms of trade for an object. The seller receives a
perfect signal that determines the value of the object to both players, whereas the buyer …

This study empirically quantifies the efficiency of a real-world bargaining game with two-
sided incomplete information. Myerson and Satterthwaite (1983) and Williams (1987) …

Attrition, screening, and signalling models of strategic bargaining are characterized in terms
of their predictions about the incidence, mean duration, and settlement rates of strikes and …