We report on a two-person bargaining experiment, where both players are represented by groups of three persons each. Both groups negotiate on the division of a given amount. If they do not come to an agreement, they receive a guaranteed payoff which is higher for one group than for the other. The discussions within the groups were recorded on video and transcribed into text protocols. From these protocols the behavior of the player groups has been analysed. We found that all groups very early in the bargaining process formulate aspiration levels. These aspiration levels are formed and adapted according to two very simple behavioral principles: 1. the equity principle (Selten 1978, 1987) and 2. the prominence principle (Schelling 1960, Albers and Albers 1983) and combinations of both
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Paper provided by University of Bonn, Germany in its series Discussion Paper Serie B with number
356e.
Length: pages Date of creation: Jan 1996 Date of revision:
Sep 1996 Handle: RePEc:bon:bonsfb:356e
Contact details of provider: Postal: Bonn Graduate School of Economics, University of Bonn, Adenauerallee 24 - 26, 53113 Bonn, Germany Fax: +49 228 73 9221 Web page: http://www.bgse.uni-bonn.de/index.php?id=517
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Find related papers by JEL classification: C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games C79 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Other