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Strategic bargaining with destructive power

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  • Manzini, Paola

Abstract

This paper studies a two-player alternating offers bargaining model in which one of the agents has the ability to damage permanently the ``pie'' bargained over. I show how this feature can result in an increase of the cost of rejecting an offer for the ``non-harming player''. Beside the ``Rubinstenian'' bilateral monopoly outcome, I show that it is possible to select a ``harming'' equilibrium in which the sequence of damages to the pie is endogenously determined and payoffs do not vary monotonically with the discount factor.

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Bibliographic Info

Paper provided by Exeter University, Department of Economics in its series Discussion Papers with number 9619.

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Date of creation: 1996
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Handle: RePEc:exe:wpaper:9619

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Postal: Streatham Court, Rennes Drive, Exeter EX4 4PU
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Web page: http://business-school.exeter.ac.uk/about/departments/economics/
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References

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  1. Manzini, Paola, 1997. "Strategic wage bargaining with destructive power: the role of commitment," Economics Letters, Elsevier, vol. 54(1), pages 15-22, January.
  2. Muthoo Abhinay, 1995. "Bargaining in a Long-Term Relationship with Endogenous Termination," Journal of Economic Theory, Elsevier, vol. 66(2), pages 590-598, August.
  3. Ariel Rubinstein, 2010. "Perfect Equilibrium in a Bargaining Model," Levine's Working Paper Archive 661465000000000387, David K. Levine.
  4. Perry Motty & Reny Philip J., 1993. "A Non-cooperative Bargaining Model with Strategically Timed Offers," Journal of Economic Theory, Elsevier, vol. 59(1), pages 50-77, February.
  5. Avery Christopher & Zemsky Peter B., 1994. "Money Burning and Multiple Equilibria in Bargaining," Games and Economic Behavior, Elsevier, vol. 7(2), pages 154-168, September.
  6. Fernandez, Raquel & Glazer, Jacob, 1991. "Striking for a Bargain between Two Completely Informed Agents," American Economic Review, American Economic Association, vol. 81(1), pages 240-52, March.
  7. Busch, Lutz-Alexander & Wen, Quan, 1995. "Perfect Equilibria in Negotiation Model," Econometrica, Econometric Society, vol. 63(3), pages 545-65, May.
  8. Holden, S., 1989. "Non-Cooperative Wage Bargaining," Memorandum 12/1989, Oslo University, Department of Economics.
  9. Eric Maskin & Jean Tirole, 2010. "A Theory of Dynamic Oligopoly, 1: Overview and Quantity Competition with Large Fixed Costs," Levine's Working Paper Archive 397, David K. Levine.
  10. Sakovics Jozsef, 1993. "Delay in Bargaining Games with Complete Information," Journal of Economic Theory, Elsevier, vol. 59(1), pages 78-95, February.
  11. repec:fth:exetec:96/17 is not listed on IDEAS
  12. Lutz-Alexander Bush & Shouyong Shi & Quan Wen, 1998. "Bargaining with Surplus Destruction," Canadian Journal of Economics, Canadian Economics Association, vol. 31(4), pages 915-932, November.
  13. repec:fth:harver:1432 is not listed on IDEAS
  14. Haller, Hans & Holden, Steinar, 1990. "A letter to the editor on wage bargaining," Journal of Economic Theory, Elsevier, vol. 52(1), pages 232-236, October.
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Citations

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Cited by:
  1. Manzini, Paola & Mariotti, Marco, 2001. "Perfect Equilibria in a Model of Bargaining with Arbitration," Games and Economic Behavior, Elsevier, vol. 37(1), pages 170-195, October.
  2. Juan J. Vidal Puga, 2006. "Reinterpreting The Meaning Of Breakdown," Working Papers. Serie AD 2006-22, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  3. Mehrdad Vahabi, 2009. "A Critical Review of Strategic Conflict Theory and Socio-political Instability Models," Post-Print hal-00629129, HAL.
  4. Paola Manzini & Marco Mariotti, 1997. "A Model of Bargaining with the Possibility of Arbitration," Game Theory and Information 9710001, EconWPA.
  5. Juan Vidal-Puga, 2008. "Delay in the alternating-offers model of bargaining," International Journal of Game Theory, Springer, vol. 37(4), pages 457-474, December.

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