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On The Unification of Two-Person Bargaining Theory

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  • R. Harrison Wagner

    (University of Texas)

Abstract

Efforts to develop a deductive theory of bargaining based on the assumption of rational, self-interested behavior have produced serious disagreements among those who have approached the problem from this perspective. This paper argues that when allowance is made for important differences among types of bargaining situations, it is possible to develop a theory that is both coherent and plausible. An effort is also made to contribute to the understanding of the problem of bargaining with incomplete knowledge of the bargainers' utility functions. It is argued that an emphasis on the costs of bargaining provides the basis for a unified theory that covers both complete and incomplete knowledge.

Suggested Citation

  • R. Harrison Wagner, 1979. "On The Unification of Two-Person Bargaining Theory," Journal of Conflict Resolution, Peace Science Society (International), vol. 23(1), pages 71-101, March.
    • Handle: RePEc:sae:jocore:v:23:y:1979:i:1:p:71-101
    DOI: 10.1177/002200277902300104
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    References listed on IDEAS

    as
    1. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
    2. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
    3. John C. Harsanyi & Reinhard Selten, 1972. "A Generalized Nash Solution for Two-Person Bargaining Games with Incomplete Information," Management Science, INFORMS, vol. 18(5-Part-2), pages 80-106, January.
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    Cited by:

    1. Luis C. Dias & Rudolf Vetschera, 2019. "Multiple local optima in Zeuthen–Hicks bargaining: an analysis of different preference models," EURO Journal on Decision Processes, Springer;EURO - The Association of European Operational Research Societies, vol. 7(1), pages 33-53, May.
    2. Jean-Pierre P. Langlois & Catherine C. Langlois, 2004. "Holding Out for Concession: The Quest for Gain in the Negotiation of International Agreements," International Interactions, Taylor & Francis Journals, vol. 32(3), pages 261-293, April.

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