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Herings, P. Jean-Jacques; Houba, Harold - 2010

We analyze the simplest Condorcet cycle with three players and three alternatives within a strategic bargaining model with recognition probabilities and costless delay. Mixed consistent subgame perfect equilibria exist whenever the geometric mean of the agents' risk coefficients, ratios of...

Persistent link: https://www.econbiz.de/10010325975

Preopening and Equilibrium Selection

Calcagno, Riccardo; Lovo, Stefano - 2010

We introduce a form of pre-play communication that we call preopening. During the preopening, players announce their tentative actions to be played in the underlying game. Announcements are made using a posting system which is subject to stochastic failures. Posted actions are publicly...

Persistent link: https://www.econbiz.de/10010326012

Social Relations and Relational Incentives

Dur, Robert; Tichem, Jan - 2012

This paper studies how social relationships between managers and employees affect relational incentive contracts. To this end we develop a simple dynamic principal-agent model where both players may have feelings of altruism or spite toward each other. The contract may contain two types of...

Persistent link: https://www.econbiz.de/10010326344

A "new trade" theory of GATT/WTO negotiations

Ossa, Ralph - 2009

I develop a novel theory of GATT/WTO negotiations. This theory provides new answers to two prominent questions in the … trade policy literature: first, what is the purpose of trade negotiations? And second, what is the role played by the …/WTO negotiations, my theory makes two main contributions: first, it builds on a 'new trade' model rather than the neoclassical trade …

Persistent link: https://www.econbiz.de/10010326741

Secure implementation in economies with indivisible objects and money

Fujinaka, Yuji; Wakayama, Takuma - 2007

This paper studies the application of the notion of secure implementation (Cason, Saijo, Sjöström, and Yamato, 2006; Saijo, Sjöström, and Yamato, 2007) to the problem of allocating indivisible objects with monetary transfers. We propose a new domain-richness condition, termed as minimal...

Persistent link: https://www.econbiz.de/10010332239

Vickerey allocation rule with income effect

Saitoh, Hiroki; Serizawa, Shigehiro - 2005

We consider situations where a society tries to efficiently allocate several homogeneous and indivisible goods among agents. Each agent receives at most one unit of the good. For example, suppose that a government wishes to allocate a fixed number of licenses to operate in its country to private...

Persistent link: https://www.econbiz.de/10010332345

What ethics can learn from experimental economics - if anything

Güth, Werner; Kliemt, Hartmut - 2008

Relying on the specific example of ultimatum bargaining experiments this paper explores the possible role of empirical knowledge of behavioural norm(ative) facts" within the search for an inter-personal (W)RE - (Wide) Reflective Equilibrium on normative issues. Assuming that pro-social behaviour...

Persistent link: https://www.econbiz.de/10010332983

The emergence of norms from conflicts over just distributions

Miller, Luis M.; Rauhut, Heiko; Winter, Fabian - 2011

Why is it that well-intentioned actions can create persistent conflicts? While norms are widely regarded as a source for cooperation, this article proposes a novel theory in which the emergence of norms can be understood as a bargaining process in which normative conflicts explain the finally...

Persistent link: https://www.econbiz.de/10010333042

Market experience is a reference point in judgments of fairness

Herz, Holger; Taubinsky, Dmitry - 2013

People's desire for fair transactions can play an important role in negotiations, organizations, and markets. In this …

Persistent link: https://www.econbiz.de/10010333105

A bargaining theory of trade invoicing and pricing

Goldberg, Linda; Tille, Cédric - 2013

We develop a theoretical model of international trade pricing in which individual exporters and importers bargain over the transaction price and exposure to exchange rate fluctuations. We find that the choice of price and invoicing currency reflects the full market structure, including the...

Persistent link: https://www.econbiz.de/10010333604