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Bargaining with Two-Person-Groups - On the Insignificance of the Patient Partner

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  • Oliver Kirchkamp

    () (School of Economics and Business Administration, Friedrich-Schiller-University Jena)

  • Ulrike Vollstädt

    () (Jena Graduate School "Human Behaviour in Social and Economic Change", University of Jena)

Abstract

Although many real bargaining situations involve more than two people, much of the theoretical and experimental research concentrates on the two player situation. We study the simplest possible extension: four people (two two-person groups) of different patience bargain with each other. Theoretically, only the more patient member of each group should be relevant for the outcome. The less patient members would agree to any outcome and are, hence, irrelevant. We find, however, that the impact of the patient member can be quite small.

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File URL: http://pubdb.wiwi.uni-jena.de/pdf/wp_2012_043.pdf
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Paper provided by Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics in its series Jena Economic Research Papers with number 2012-043.

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Date of creation: 16 Jul 2012
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Handle: RePEc:jrp:jrpwrp:2012-043

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Keywords: bargaining experiment; heterogeneous group members;

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  1. Ariel Rubinstein, 2010. "Perfect Equilibrium in a Bargaining Model," Levine's Working Paper Archive 252, David K. Levine.
  2. Rubinstein, Ariel, 1985. "A Bargaining Model with Incomplete Information about Time Preferences," Econometrica, Econometric Society, vol. 53(5), pages 1151-72, September.
  3. Donna Harris & Benedikt Herrmann & Andreas Kontoleon, 2009. "Two's Company, Three's a Group: The impact of group identity and group size on in-group favouritism," Environmental Economy and Policy Research Working Papers 41.2009, University of Cambridge, Department of Land Economics, revised 2009.
  4. Ochs, Jack & Roth, Alvin E, 1989. "An Experimental Study of Sequential Bargaining," American Economic Review, American Economic Association, vol. 79(3), pages 355-84, June.
  5. Gary Bornstein & Ilan Yaniv, 1998. "Individual and Group Behavior in the Ultimatum Game: Are Groups More “Rational†Players?," Experimental Economics, Springer, vol. 1(1), pages 101-108, June.
  6. Greiner, Ben, 2004. "An Online Recruitment System for Economic Experiments," MPRA Paper 13513, University Library of Munich, Germany.
  7. Urs Fischbacher, 2007. "z-Tree: Zurich toolbox for ready-made economic experiments," Experimental Economics, Springer, vol. 10(2), pages 171-178, June.
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