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Informational Disadvantage and Bargaining Power

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Author Info

  • Sung-Hyuk Ko

    (ETRI)

  • Byoung Heon Jun

    ()
    (Department of Economics, Korea University)

Abstract

We consider an alternating offer model where the size of the total surplus is stochastic. Furthermore, the size changes during the time when the offer is being considered. As a result the responder may obtain more information than the proposer. We analyze how the asymmetry in ability to access good information affects the bargaining power, both in terms of the resulting share and in terms of the delay in agreement.

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File URL: http://econ.korea.ac.kr/~ri/WorkingPapers/W0711.pdf
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Bibliographic Info

Paper provided by Institute of Economic Research, Korea University in its series Discussion Paper Series with number 0711.

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Date of creation: 2007
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Handle: RePEc:iek:wpaper:0711

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Keywords: alternating offer bargaining; stochastic surplus; informational disadvantage;

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  1. Ariel Rubinstein, 2010. "Perfect Equilibrium in a Bargaining Model," Levine's Working Paper Archive 661465000000000387, David K. Levine.
  2. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
  3. Ben-Ner, Avner & Jun, Byoung, 1996. "Employee Buyout in a Bargaining Game with Asymmetric Information," American Economic Review, American Economic Association, vol. 86(3), pages 502-23, June.
  4. Avery Christopher & Zemsky Peter B., 1994. "Option Values and Bargaining Delays," Games and Economic Behavior, Elsevier, vol. 7(2), pages 139-153, September.
  5. Merlo, Antonio & Wilson, Charles A, 1995. "A Stochastic Model of Sequential Bargaining with Complete Information," Econometrica, Econometric Society, vol. 63(2), pages 371-99, March.
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