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The Game of Negotiations: Ordering Issues and Implementing Agreements

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Author Info
Lutz-Alexander Busch (The University of Western Ontario Department of Economics)
Ignatius J. Horstmann (The University of Western Ontario Department of Economics)

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Abstract

We use a two-issue bargaining model with asymmetric information to study agent choice of how to structure bargaining. We uncover the settings in which different agenda structures are chosen in equilibrium, how the order in which issues are bargained over matters, and what impact the rules for implementing agreements have. If agreements are implemented as they are reached, ``easy'' issues are negotiated first and ``hard'' issues later; if agreements are implemented only after all issues are settled, then it is size that matters, with large issues settled first. All parties prefer the former rules of implementation to the latter.

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File URL: http://www.ssc.uwo.ca/economics/econref/workingpapers/researchreports/wp2000/wp2000_10.pdf
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Paper provided by University of Western Ontario, Department of Economics in its series UWO Department of Economics Working Papers with number 200010.

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Date of creation: May 2000
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Handle: RePEc:uwo:uwowop:200010

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Inderst, Roman, 2000. "Multi-issue Bargaining with Endogenous Agenda," Games and Economic Behavior, Elsevier, vol. 30(1), pages 64-82, January. [Downloadable!] (restricted)
  2. Busch, Lutz-Alexander & Wen, Quan, 1995. "Perfect Equilibria in Negotiation Model," Econometrica, Econometric Society, vol. 63(3), pages 545-65, May. [Downloadable!] (restricted)
    Other versions:
  3. Clara Ponsati & Joel Watson, 1994. "Multiple-Issue Bargaining and Axiomatic Solutions," University of California at San Diego, Economics Working Paper Series 94-14, Department of Economics, UC San Diego.
    Other versions:
  4. Rubinstein, Ariel, 1982. "Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 50(1), pages 97-109, January. [Downloadable!] (restricted)
  5. Admati, Anat R & Perry, Motty, 1987. "Strategic Delay in Bargaining," Review of Economic Studies, Blackwell Publishing, vol. 54(3), pages 345-64, July. [Downloadable!] (restricted)
  6. Jun, Byoung Heon, 1989. "Non-cooperative Bargaining and Union Formation," Review of Economic Studies, Blackwell Publishing, vol. 56(1), pages 59-76, January. [Downloadable!] (restricted)
  7. Rubinstein, Ariel, 1985. "A Bargaining Model with Incomplete Information about Time Preferences," Econometrica, Econometric Society, vol. 53(5), pages 1151-72, September. [Downloadable!] (restricted)
  8. 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. [Downloadable!] (restricted)
  9. Perry, Motty, 1986. "An Example of Price Formation in Bilateral Situations: A Bargaining Model with Incomplete Information," Econometrica, Econometric Society, vol. 54(2), pages 313-21, March. [Downloadable!] (restricted)
  10. Bac, Mehmet & Raff, Horst, 1996. "Issue-by-Issue Negotiations: The Role of Information and Time Preference," Games and Economic Behavior, Elsevier, vol. 13(1), pages 125-134, March. [Downloadable!] (restricted)
  11. Cho, In-Koo, 1987. "A Refinement of Sequential Equilibrium," Econometrica, Econometric Society, vol. 55(6), pages 1367-89, November. [Downloadable!] (restricted)
  12. Myerson, Roger B. & Satterthwaite, Mark A., 1983. "Efficient mechanisms for bilateral trading," Journal of Economic Theory, Elsevier, vol. 29(2), pages 265-281, April. [Downloadable!] (restricted)
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  13. Busch, Lutz-Alexander & Horstmann, Ignatius, 1997. "A Comment on Issue-by-Issue Negotiations," Games and Economic Behavior, Elsevier, vol. 19(1), pages 144-148, April. [Downloadable!] (restricted)
  14. Cho, In-Koo & Kreps, David M, 1987. "Signaling Games and Stable Equilibria," The Quarterly Journal of Economics, MIT Press, vol. 102(2), pages 179-221, May. [Downloadable!] (restricted)
  15. Lutz-Alexander Busch & Ignatius Horstmann, 1999. "Endogenous Incomplete Contracts: A Bargaining Approach," Canadian Journal of Economics, Canadian Economics Association, vol. 32(4), pages 956-975, August. [Downloadable!] (restricted)
  16. Kalai, Ehud, 1977. "Proportional Solutions to Bargaining Situations: Interpersonal Utility Comparisons," Econometrica, Econometric Society, vol. 45(7), pages 1623-30, October. [Downloadable!] (restricted)
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  17. 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. [Downloadable!] (restricted)
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  18. Sanford J. Grossman & Motty Perry, 1986. "Sequential Bargaining Under Asymmetric Information," NBER Technical Working Papers 0056, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  19. 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. [Downloadable!] (restricted)
  20. Fershtman, Chaim, 1990. "The importance of the agenda in bargaining," Games and Economic Behavior, Elsevier, vol. 2(3), pages 224-238, September. [Downloadable!] (restricted)
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  21. Drew Fudenberg & David K. Levine & Jean Tirole, 1985. "Infinite-Horizon Models of Bargaining with One-Sided Incomplete Information," Levine's Working Paper Archive 1098, David K. Levine. [Downloadable!]
  22. 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. [Downloadable!] (restricted)
  23. Inderst, Roman, 1998. "Multi-Issue Bargaining with Endogenous Agenda," Sonderforschungsbereich 504 Publications 98-35, Sonderforschungsbereich 504, Universität Mannheim & Sonderforschungsbereich 504, University of Mannheim.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. L.-A. Busch & A. Muthoo, 2003. "Power and Inefficient Institutions," Economics Discussion Papers 561, University of Essex, Department of Economics. [Downloadable!]
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