Scale changes and shared information in bargaining: An experimental study |
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Authors: | Alvin E. Roth Michael W.K. Malouf |
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Affiliation: | Department of Business Administration, College of Commerce and Business Administration, University of Illinois at Urbana-Champaign, Champaign, IL 61820, U.S.A. |
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Abstract: | This paper reports one of a series of experiments designed to test aspects of various game-theoretic models of bargaining. The results of this experiment consolidate those of previous experiments, which are first reviewed. The principal new result of this experiment is the observation, under conditions of partial information, of systematic violations of the axiom of independence of equivalent utility representations. The adequacy of various theories of bargaining to describe the observed data is also tested and discussed. |
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Keywords: | Bargaining game bargaining solution independence of equivalent utility representations |
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