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Bargaining Frictions, Bargaining Procedures and Implied Costs in Multiple-Issue Bargaining

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  • Busch, Lutz-Alexander
  • Horstmann, Ignatius J

Abstract

This paper explores how bargaining frictions and bargaining procedures interact to determine players' bargaining costs in multiple-issue bargaining settings. When bargaining frictions take the form of discounting and agreements are implemented as they are reached, issue-by-issue negotiation can generate bargaining costs different from those that occur if all issues are bargained simultaneously. These cost differences result in differences in allocations across bargaining procedures such that players disagree on the desired method of bargaining. Similar results hold for certain fixed-cost bargaining friction specifications. This analysis provides a potential explanation of both agenda bargaining and incomplete contracts. Copyright 1997 by The London School of Economics and Political Science

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Bibliographic Info

Article provided by London School of Economics and Political Science in its journal Economica.

Volume (Year): 64 (1997)
Issue (Month): 256 (November)
Pages: 669-80

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Handle: RePEc:bla:econom:v:64:y:1997:i:256:p:669-80

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Cited by:
  1. Lutz-Alexander Busch & Ignatius J. Horstmann, 1997. "The Game of Negotiations: Ordering Issues and Implementing Agreements," Working Papers 97003, University of Waterloo, Department of Economics, revised May 1997.
  2. Flamini, Francesca, 2007. "First things first? The agenda formation problem for multi-issue committees," Journal of Economic Behavior & Organization, Elsevier, vol. 63(1), pages 138-157, May.
  3. Ignatius J. Horstmann & James R. Markusen & Jack Robles, 2001. "Multi-Issue Bargaining and Linked Agendas: Ricardo Revisited or No Pain No Gain," NBER Working Papers 8347, National Bureau of Economic Research, Inc.
  4. D r. (elect.) Julia Korosteleva, . "Maximising Seigniorage and Inflation Tax: The Case of Belarus," Working Papers 2006_5, Business School - Economics, University of Glasgow.
  5. Younghwan In & Roberto Serrano, 2000. "Agenda Restrictions in Multi-Issue Bargaining," Working Papers 2000-08, Brown University, Department of Economics.
  6. Walter Bossert & Hans Peters, . "Multi-Attribute Decision-Making in Individual and Social, Choice," Discussion Papers 98/7, University of Nottingham, School of Economics.
  7. Horn, Henrik & Mavroides, Petros C., 2013. "Multilateral Environmental Agreements in the WTO: Silence Speaks Volumes," Working Paper Series 983, Research Institute of Industrial Economics.
  8. Francis Bloch & Geoffroy De Clippel, 2008. "Cores of combined games," Working Papers hal-00356298, HAL.
  9. Francesca Flamini, . "A Note on Agenda Restrictions in Multi-Issue Bargaining," Working Papers 2003_15, Business School - Economics, University of Glasgow.
  10. Aviad Heifetz & Clara Ponsati, 2007. "All in good time," International Journal of Game Theory, Springer, vol. 35(4), pages 521-538, April.
  11. Roberto Serrano, 2007. "Bargaining," Working Papers 2007-06, Instituto MadrileƱo de Estudios Avanzados (IMDEA) Ciencias Sociales.
  12. Acharya, Avidit & Ortner, Juan, 2013. "Delays and partial agreements in multi-issue bargaining," Journal of Economic Theory, Elsevier, vol. 148(5), pages 2150-2163.
  13. Francesca Flamini, . "Strategic Effects and Incentives in Multi-issue Bargaining Games," Working Papers 2005_5, Business School - Economics, University of Glasgow.

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