The Evolution of Bargaining Behavior
AbstractThe paper examines the evolutionary foundations of bilateral bargaining behavior, emphasizing the trade-off between commitment and flexibility. When the pie's size is certain, evolution favors the "fair" strategy; accept any share greater than or equal to one half, reject any smaller share. The unique outcome is hence an equal split. In noisy environments, more flexible behavior tends to appear in equilibrium. Since flexibility attracts greediness, there is then a positive probability of conflict.
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Bibliographic InfoPaper provided by Stockholm School of Economics in its series Working Paper Series in Economics and Finance with number 61.
Length: 16 pages
Date of creation: Jul 1995
Date of revision:
Publication status: Published in Quarterly Journal of Economics, 1997, pages 581-602.
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Postal: The Economic Research Institute, Stockholm School of Economics, P.O. Box 6501, 113 83 Stockholm, Sweden
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Bargaining; evolution; commitment; Coase Theorem;
Other versions of this item:
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
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