a discretionary option. This paper clarifies the optimal degree of commitment using the framework of a repeated game … reported by Chari and Kehoe (1990). We point out the relation between the optimal degree of commitment and the rate of time …

This note explores the consequences of a player's freedom of choice over his degree of commitment for the bargaining … player to possess imperfect commitments where the degree of commitment is chosen prior to the negotiation stage. We show that … a player optimally chooses an intermediate degree of irrevocability provided the costs of increasing the degree of …