We model takeovers as a bargaining process and explain termination fees for, both, the target and the acquirer, subject … to parties’ bargaining power and outside options. In equilibrium, termination fees are offered by firms with outside … options in exchange for a greater share of merger synergies. Termination fees decrease in firms’ bargaining power, and …

This paper provides strategic foundations for the insight that the bargaining power of employees depends on the firm … bargaining (i.e. the negotiators’ fall-back positions and outside options); they affect the nature of the bargaining process …

The relevance of bargaining to everyday life can easily be ascertained, yet the study of any bargaining process is … on some dimensions of the bargaining process – asymmetries and uncertainties in particular – by using a non … most economic situations, uncertainty crucially affects also bargaining processes. Therefore, in our analysis, we introduce …

The objective of this paper is to investigate the usefulness of non-cooperative bargaining theory for the analysis of … multilateral, multiple issues, non-cooperative bargaining model of water allocation in the Piave River Basin, in the North East of … problem and conduct comparative static analyses to assess sources of bargaining power. Finally, we explore the implications of …

I estimate a search-and-bargaining model of a decentralized market to quantify the effects of trading frictions on …

This paper studies a dynamic bargaining model with informational externalities between bargaining pairs. Two principals …

subsidize entrepreneurial investment (there is a wage bargaining distortion and a search externality), simulations show that the … newspaper. Unemployment occurs in occupations that are short on vacancies. New vacancies are created by entrepreneurial search … and investment, so it may take some time before an unemployed worker finds a job. Wages are determined by bargaining. A …

-sharing due to search frictions implies that ‘good’ jobs which have higher creation costs must pay higher wages. This wage …