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Bargaining Behavior: A Comparison Between Mature Industrial Personnel and College Students

Author

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  • S. Siegel

    (The Pennsylvania State University, University Park)

  • D. L. Harnett

    (The Pennsylvania State University, University Park)

Abstract

The study reported here was conducted for two purposes. The primary purpose was to provide an experimental test of certain theoretical models of bargaining behavior. A second purpose, emphasized in this paper, was to study the bargaining behavior of experienced personnel in business as contrasted with the bargaining behavior of college students. The design of the study was dictated by the requirements of the theoretical model; the interest in comparing businessmen with students was subordinate, and did not in itself influence the fundamental features of the design. Thus, while the test of the hypothesis is formal and has some rigor, the comparison of the two subject populations is informal, and is suggestive and provocative, perhaps, rather than definitive. In general the groups were notably similar in regard to their bidding patterns and the equilibrium solutions they reached.

Suggested Citation

  • S. Siegel & D. L. Harnett, 1964. "Bargaining Behavior: A Comparison Between Mature Industrial Personnel and College Students," Operations Research, INFORMS, vol. 12(2), pages 334-343, April.
    • Handle: RePEc:inm:oropre:v:12:y:1964:i:2:p:334-343
    DOI: 10.1287/opre.12.2.334
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    Cited by:

    1. Beck, Adrian & Kerschbamer, Rudolf & Qiu, Jianying & Sutter, Matthias, 2014. "Car mechanics in the lab––Investigating the behavior of real experts on experimental markets for credence goods," Journal of Economic Behavior & Organization, Elsevier, vol. 108(C), pages 166-173.
    2. Klaus Abbink & Bettina Rockenbach, 2006. "Option pricing by students and professional traders: a behavioural investigation," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 27(6), pages 497-510.
    3. Gary E Bolton & Axel Ockenfels & Ulrich Thonemann, 2008. "Managers and Students as Newsvendors - How Out-of-Task Experience Matters," Working Paper Series in Economics 39, University of Cologne, Department of Economics.
    4. Paolo Crosetto & Alexia Gaudeul, 2017. "Choosing not to compete: Can firms maintain high prices by confusing consumers?," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 26(4), pages 897-922, December.
    5. Vespa, Emanuel I., 2016. "Malapportionment and multilateral bargaining: An experiment," Journal of Public Economics, Elsevier, vol. 133(C), pages 64-74.

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