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Strategic bargaining with destructive power

Author

Listed:
  • Manzini, Paola

Abstract

This paper studies a two-player alternating offers bargaining model in which one of the agents has the ability to damage permanently the ``pie'' bargained over. I show how this feature can result in an increase of the cost of rejecting an offer for the ``non-harming player''. Beside the ``Rubinstenian'' bilateral monopoly outcome, I show that it is possible to select a ``harming'' equilibrium in which the sequence of damages to the pie is endogenously determined and payoffs do not vary monotonically with the discount factor.
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Suggested Citation

  • Manzini, Paola, 1996. "Strategic bargaining with destructive power," Discussion Papers 9619, University of Exeter, Department of Economics.
    • Handle: RePEc:exe:wpaper:9619
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    Citations

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    Cited by:

    1. Mehrdad Vahabi, 2011. "The Economics of Destructive Power," Chapters, in: Derek L. Braddon & Keith Hartley (ed.), Handbook on the Economics of Conflict, chapter 5, Edward Elgar Publishing.
    2. Britz, Volker, 2018. "Rent-seeking and surplus destruction in unanimity bargaining," Games and Economic Behavior, Elsevier, vol. 109(C), pages 1-20.
    3. Mehrdad Vahabi, 2012. "Political Economy of Conflict Foreword," Revue d'économie politique, Dalloz, vol. 122(2), pages 153-169.
    4. Manzini, Paola & Mariotti, Marco, 2001. "Perfect Equilibria in a Model of Bargaining with Arbitration," Games and Economic Behavior, Elsevier, vol. 37(1), pages 170-195, October.
    5. Richter, Michael, 2014. "Fully absorbing dynamic compromise," Journal of Economic Theory, Elsevier, vol. 152(C), pages 92-104.
    6. P. Manzini & M. Mariotti, 1997. "A Model of Bargaining with the Possibility of Arbitration," Working Papers 374, Queen Mary University of London, School of Economics and Finance.
    7. Mehrdad Vahabi, 2009. "A Critical Review of Strategic Conflict Theory and Socio-political Instability Models," Revue d'économie politique, Dalloz, vol. 119(6), pages 817-858.
    8. Juan Vidal-Puga, 2008. "Delay in the alternating-offers model of bargaining," International Journal of Game Theory, Springer;Game Theory Society, vol. 37(4), pages 457-474, December.
    9. Manzini, Paola, 1999. "Strategic bargaining with destructive power," Economics Letters, Elsevier, vol. 65(3), pages 315-322, December.
    10. Agustín Casas & Martín Gonzalez-Eiras, 2021. "Cooperation and Retaliation in Legislative Bargaining," Working Papers 95, Red Nacional de Investigadores en Economía (RedNIE).
    11. Taiji Furusawa & Quan Wen, 2001. "Unique Inneficient Perfect Equilibrium in a Stochastic Model of Bargaining with Complete Information," Vanderbilt University Department of Economics Working Papers 0121, Vanderbilt University Department of Economics.
    12. Vahabi,Mehrdad, 2019. "The Political Economy of Predation," Cambridge Books, Cambridge University Press, number 9781107591370, January.
    13. Juan Vidal-Puga, 2005. "Reinterpreting the meaning of breakdown," Game Theory and Information 0501004, University Library of Munich, Germany.
    14. Volker Britz, 2016. "Destroying Surplus and Buying Time in Unanimity Bargaining," CER-ETH Economics working paper series 16/248, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    15. Mehrdad Vahabi, 2012. "Avant-Propos," Revue d'économie politique, Dalloz, vol. 122(2), pages 135-151.

    More about this item

    JEL classification:

    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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