The Effect of Disagreement on Noncooperative Bargaining |
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| Authors: | Paola Manzini Marco Mariotti |
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| Institution: | a Department of Economics, Queen Mary, University of London and IZA, London, United Kingdomb Department of Economics, University of Exeter, United Kingdomf1m.mariotti@exeter.ac.ukf1 |
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| Abstract: | A seemingly mild assumption of the standard alternating offers bargaining model under risk is that the breakdown event is not strictly worse than the worst agreement. When this assumption is relaxed the structure of the equilibrium set of agreements changes in an interesting way. We analyse the effect of disagreement on equilibrium, and relate our result to a class of outside option models. Journal of Economic Literature Classification Number: C78. |
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| Keywords: | disagreement bargaining |
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