The power to delay
This paper studies a bilateral bargaining game in which one party can suspend the game indefinitely. If suspension is costless, multiple equilibria arise; if suspension is costly and subject to a budget constraint, a unique equilibrium with immediate agreement is obtained.
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References listed on IDEAS
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- 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.
- Shaked, Avner & Sutton, John, 1984. "Involuntary Unemployment as a Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 52(6), pages 1351-64, November.
- Ariel Rubinstein, 2010.
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- Busch, Lutz-Alexander & Wen, Quan, 1995.
"Perfect Equilibria in Negotiation Model,"
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- Busch, L-A. & Wen, Q., 1991. "Perfect Equilibria in a Negotiation Model," University of Western Ontario, The Centre for the Study of International Economic Relations Working Papers 9108, University of Western Ontario, The Centre for the Study of International Economic Relations.
- 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.
- Sutton, John, 1986. "Non-cooperative Bargaining Theory: An Introduction," Review of Economic Studies, Wiley Blackwell, vol. 53(5), pages 709-24, October.
- JÕzsef SÂkovics & Clara PonsatÎ, 1998. "Rubinstein bargaining with two-sided outside options," Economic Theory, Springer, vol. 11(3), pages 667-672.
- Raquel Fernandez & Jacob Glazer, 1989.
"Striking for a Bargain Between Two Completely Informed Agents,"
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3108, National Bureau of Economic Research, Inc.
- 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.
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