Bargaining Over an Uncertain Outcome: The Role of Beliefs
We study the Nash bargaining solution of a problem in which two agents bargain over an uncertain outcome. Under the assumptions of risk neutrality and of constant absolute risk aversion, we study the way that solution varies, ex ante, when we vary the beliefs of one agent. Changing an agent`s beliefs in a way that makes them ``more distant`` from the other agent`s beliefs makes the second agent better off.
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|Date of creation:||2001|
|Date of revision:|
|Contact details of provider:|| Postal: Israel TEL-AVIV UNIVERSITY, THE FOERDER INSTITUTE FOR ECONOMIC RESEARCH, RAMAT AVIV 69 978 TEL AVIV ISRAEL.|
Web page: http://econ.tau.ac.il/foerder/about
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