Commitment and Conflict in Bilateral Bargaining
AbstractBuilding on previous work by Schelling and Crawford, we study a model of bilateral bargaining in which negotiators can make binding commitments at a low positive cost c. Most of our results concern outcomes that survive iterated strict dominance. If commitment attempts never fail, there are three such outcomes. In two of them, all the surplus goes to one player. In the third, there is a high probability of conflict. If commitment attempts succeed with probability q
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Bibliographic InfoArticle provided by American Economic Association in its journal American Economic Review.
Volume (Year): 98 (2008)
Issue (Month): 4 (September)
Find related papers by JEL classification:
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
- D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances
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- David Malueg, 2010. "Mixed-strategy equilibria in the Nash Demand Game," Economic Theory, Springer, vol. 44(2), pages 243-270, August.
- Li, Duozhe, 2011. "Commitment and compromise in bargaining," Journal of Economic Behavior & Organization, Elsevier, vol. 77(2), pages 203-211, February.
- Britz, Volker, 2013. "Optimal value commitment in bilateral bargaining," Games and Economic Behavior, Elsevier, vol. 77(1), pages 345-351.
- Dutta, Rohan, 2012. "Bargaining with revoking costs," Games and Economic Behavior, Elsevier, vol. 74(1), pages 144-153.
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