Fooling All of the People Some of the Time: A Theory of Endogenous Sequencing in Confidential Negotiations
Fooling All of the People Some of the Time: A Theory of Endogenous Sequencing in Confidential Negotiations
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有时愚弄所有人:机密谈判中的内生排序理论
DOI:
10.2139/ssrn.79934
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发表时间:
2001
期刊:
影响因子:
--
通讯作者:
T. Noe
中科院分区:
文献类型:
--
作者:
Jun Wang;T. Noe
We analyse a bargaining game in which one party, called the buyer, has the option of choosing the sequence of negotiations with other participants, called sellers. When the sequencing of negotiations is confidential and the sellers' goods are highly complementary, efficient, non-dissipative equilibria exist in which the buyer randomizes over negotiation sequences. In these equilibria, the buyer can obtain higher pay-offs than in pure strategy equilibria or in public negotiations. The degree of sequencing uncertainty that maximizes buyer pay-offs is inversely related to the aggregate bargaining power of the sellers.