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Experiments on bilateral bargaining in markets |
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| Authors: | Andreas Tutic,Stefan Pfau,André Casajus |
| Affiliation: | (1) School of Economic and Management Studies, Keele University, Keele, Staffordshire, ST5 5BG, UK;(2) CentER and Department of Econometrics and Operations Research, Tilburg University, Tilburg, The Netherlands;(3) TILEC, Department of Econometrics and Operations Research, and Tias Business School, Tilburg University, Tilburg, The Netherlands |
| Abstract: | We present experimental data on a simple market game. Several solution concepts from cooperative game theory are applied to predict the observed payoff distributions. Notably, a recently introduced solution concept meant to capture the influence of outside options on the payoff distribution within groups fares better than most other solution concepts under consideration. Our results shed some light on the effects of scarcity relations on markets on bargaining outcomes within negotiating dyads. |
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