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Stakeholders in Bilateral Conflict

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Author Info

  • Paola Manzini

    (Queen Mary, University of London & IZA)

  • Clara Ponsati

    (Institut d'Analisi Economica - CSIC & CODE-Universitat Autonoma de Barcelona)

Abstract

The resolution of a conflict often has an impact which extends beyond the remits of the parties directly involved in the confrontation (e.g. labour negotiations in sectors of public interest, where a strike would impact on the public at large). Once this is recognised, models addressing negotiations in such situations ought to account for the role and interests of the stakeholder - a third party whose stake is linked to the original negotiations. In this paper we address the strategic role of stakeholders in bilateral confrontations that take the form of a war of attrition; we assume that the bilateral confrontation runs concurrently with the parties interaction with the stakeholder, that chooses strategically her timing to intervene and take action to promote agreement. We show that under complete information the interplay of different interests in this tripartite timing game results in delayed outcomes. We also explore the role of incomplete information and show that asymmetries of information do not necessarily translate in increased inefficiency.

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Bibliographic Info

Paper provided by EconWPA in its series Game Theory and Information with number 0311008.

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Date of creation: 27 Nov 2003
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Handle: RePEc:wpa:wuwpga:0311008

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Keywords: stakeholders; bargaining; war of attrition;

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References

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  1. Dilip Abreu & Faruk Gul, 2000. "Bargaining and Reputation," Econometrica, Econometric Society, vol. 68(1), pages 85-118, January.
  2. Paola Manzini & Clara Ponsatí, 2010. "Stakeholders, Bargaining and Strikes," Working Papers id:2753, eSocialSciences.
  3. Jehiel, Philippe & Moldovanu, Benny, 1995. "Negative Externalities May Cause Delay in Negotiation," Econometrica, Econometric Society, vol. 63(6), pages 1321-35, November.
  4. Martin J Osborne & Ariel Rubinstein, 2009. "A Course in Game Theory," Levine's Bibliography 814577000000000225, UCLA Department of Economics.
  5. Paul Klemperer & Jeremy Bulow, 1997. "The Generalized War of Attrition," Economics Series Working Papers 1998-W01, University of Oxford, Department of Economics.
  6. Hendricks, Ken & Weiss, Andrew & Wilson, Charles A, 1988. "The War of Attrition in Continuous Time with Complete Information," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 29(4), pages 663-80, November.
  7. Ponsati, Clara & Sakovics, Jozsef, 1995. "The war of attrition with incomplete information," Mathematical Social Sciences, Elsevier, vol. 29(3), pages 239-254, June.
  8. Martin J. Osborne & Ariel Rubinstein, 2005. "Bargaining and Markets," Levine's Bibliography 666156000000000515, UCLA Department of Economics.
  9. Jehiel, Philippe & Benny Moldovanu, 1993. "Cyclical Delay in Bargaining with "Externalities"," Discussion Paper Serie B 234, University of Bonn, Germany.
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Citations

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Cited by:
  1. Mark Fey & Kristopher Ramsay, 2009. "Mechanism design goes to war: peaceful outcomes with interdependent and correlated types," Review of Economic Design, Springer, vol. 13(3), pages 233-250, September.
  2. P. Manzini & C. Ponsati, 2006. "Stakeholder bargaining games," International Journal of Game Theory, Springer, vol. 34(1), pages 67-77, April.

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