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Wambach, Achim - C.E.P.R. Discussion Papers - 1999

By offering or choosing a contract the informed agent might reveal information to the principal which could be used for immediate renegotiation. This is discussed in an axiomatic approach. We show that if, given the revealed information, there exists a contract which is preferred by everyone,...

Persistent link: https://www.econbiz.de/10005504482

Bargaining in Mergers and Termination Fees

Rosenkranz, Stephanie; Weitzel, Utz - C.E.P.R. Discussion Papers - 2007

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...

Persistent link: https://www.econbiz.de/10005498188

Reason-Based Choice: A Bargaining Rationale for the Attraction and Compromise Effects

de Clippel, Geoffroy; Eliaz, Kfir - C.E.P.R. Discussion Papers - 2009

This paper proposes a model of boundedly rational choice that explains the well known attraction and compromise effects. Choices in our model are interpreted as a cooperative solution to a bargaining problem among an individual’s conflicting dual selves. We axiomatically characterize a unique...

Persistent link: https://www.econbiz.de/10004976794

Prudence in Bargaining: The Effect of Uncertainty on Bargaining Outcomes

White, Lucy - C.E.P.R. Discussion Papers - 2006

We investigate the outcome of bargaining when a player’s pay-off from agreement is risky. We find that a risk-averse player typically increases his equilibrium receipts when his pay-off is made risky. This is because the presence of risk makes individuals behave 'more patiently' in bargaining....

Persistent link: https://www.econbiz.de/10005666445

Karp, Larry; Sioli, Lucy - C.E.P.R. Discussion Papers - 1995

We analyse the interaction of asymmetric industries in international vertically related markets. Each downstream firm bargains efficiently with its domestic supplier in a first stage and with the foreign supplier in a second stage. The asymmetry in upstream costs leads to inter-industry trade....

Persistent link: https://www.econbiz.de/10005789162

Modelling Negotiated Decision Making: A Multilateral, Multiple Issues, Non-Cooperative Bargaining Model with Uncertainty

Carraro, Carlo; Sgobbi, Alessandra - C.E.P.R. Discussion Papers - 2007

-cooperative game theory approach. We develop a computational model which simulates the process of negotiation among more than two …

Persistent link: https://www.econbiz.de/10005791640

A Stochastic Multiple Players Multi-Issues Bargaining Model for the Piave River Basin

Carraro, Carlo; Sgobbi, Alessandra - C.E.P.R. Discussion Papers - 2007

The objective of this paper is to investigate the usefulness of non-cooperative bargaining theory for the analysis of …

Persistent link: https://www.econbiz.de/10005791729

College Diversity and Investment Incentives

Gall, Thomas; Legros, Patrick; Newman, Andrew - C.E.P.R. Discussion Papers - 2015

This paper studies the aggregate economic effects of diversity policies such as affirmative action in college admission. If agents are constrained in the side payments they can make, the free market allocation displays excessive segregation relative to the first-best. Affirmative action policies...

Persistent link: https://www.econbiz.de/10011145471

Coarse Matching and Price Discrimination

Hoppe, Heidrun C.; Moldovanu, Benny; Ozdenoren, Emre - C.E.P.R. Discussion Papers - 2007

of a coarse matching scheme consisting of two classes of agents on each side, in terms of matching surplus (output), the …, our philosophy is that, if the worst-case scenario under coarse matching is not too bad relative to what is achievable by … more complex, finer schemes, a coarse matching scheme will turn out to be preferable once the various transaction costs …

Persistent link: https://www.econbiz.de/10005792482

Matching with Trade-offs: Revealed Preferences over Competing Characteristics

Galichon, Alfred; Salanié, Bernard - C.E.P.R. Discussion Papers - 2010

We investigate in this paper the theory and econometrics of optimal matchings with competing criteria. The surplus from … characteristics that the analyst does not observe. The social optimum must therefore trade off matching on incomes and matching on … set of feasible matchings and of the socially optimal matching. Then we show how data on the covariation of the types of …

Persistent link: https://www.econbiz.de/10008530351