Uncertainty about Uncertainty and Delay in Bargaining
نویسندگان
چکیده
منابع مشابه
Uncertainty about Uncertainty and Delay in Bargaining
We study a one-sided offers bargaining game in which the buyer has private information about the value of the object and the seller has private information about his beliefs about the buyer. We show that this uncertainty about uncertainties dramatically changes the set of possible outcomes when compared to two-sided private information. In particular, higher order beliefs can lead to a delay in...
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We study a one-sided offers bargaining game in which the buyer has private information about the value of the object and the seller has private information about his beliefs about the buyer’s valuation. We show that this uncertainty about uncertainties dramatically changes the set of outcomes. In particular, second order beliefs can lead to a delay in reaching agreement even when the seller mak...
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I show how uncertainty about fundamentals can cause delay in bargaining when agents have reputational concerns. Agents’ publicly observable costs of delay change stochastically at some revelation time. In addition to rational agents, there are behavioral types committed to many different fixed demands. I show that even when the probability of behavioral types is arbitrarily small, agreement may...
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A two-person infinite-horizon bargaining model where one of the players may have either of two discount factors, has a multiplicity of perfect Bayesian equilibria. Introducing the slightest possibility that either player may be one of a rich variety of stationary behavioral types singles out a particular solution and appears to support some axiomatic treatments in the early literature in their ...
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This paper provides a novel understanding of delays in reaching agreements based on the idea of strategic uncertainty—i.e., the idea that a Bargainer may face uncertainty about her opponent’s play, even if there is no uncertainty about the structure of the game. It considers a particular form of strategic uncertainty, called on path strategic certainty. On path strategic certainty is the assump...
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ژورنال
عنوان ژورنال: Econometrica
سال: 2005
ISSN: 0012-9682,1468-0262
DOI: 10.1111/j.1468-0262.2005.00565.x