The Impact of Managerial Flexibility on Negotiation Strategy and Bargaining Power
Using a dynamic real options approach we show that in a sequential bargaining framework managerial flexibility is strengthening the first-mover advantage by undermining the bargaining power of the second mover. Furthermore we compare the results of the sequential framework with the results of cooperative bargaining.
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Munich Reprints in Economics
18220, University of Munich, Department of Economics.
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