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Time preferences: do they matter in bargaining?

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Author Info
Paola Manzini (Queen Mary, University of London and IZA)

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Abstract

Experimental studies of bargaining generally impose time preferences' on subjects, in the sense that in case of disagreement, the experimenter reduces the size of the surplus bargained over by imposing exogenously some monetary cost. Contrary to this practice, in this study time preferences are first elicited in a preliminary phase, and then bargaining begins. I show that although subjects are sensitive to the timing of a monetary reward, this plays no role in determining bargaining behaviour. To the contrary, when the bargaining game is played in conventional experimental setting with monetary cost of delay, these do have an impact on subjects? conduct in negotiations.

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Paper provided by EconWPA in its series Experimental with number 0106001.

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Length: 37 pages
Date of creation: 22 Jun 2001
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Handle: RePEc:wpa:wuwpex:0106001

Note: Type of Document - .pdf; prepared on IBM PC ; pages: 37; figures: included. Instructions available upon request
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Related research
Keywords: Bargaining; time preferences; experiments;

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Find related papers by JEL classification:
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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