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Journal of Economic Theory and Econometrics
JETEM/계량경제학보/計量經濟學報/JKES
Journal of the Korean Econometric Society

Informational Disadvantage and Bargaining Power

Vol.20, No.1, March , 15–27



  •   (The Electronics and Telecommunications Research Institute.)

  •   (Department of Economics, Korea University)

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Abstract  

We consider an alternating offer model where the size of the total surplus is stochastic. Furthermore, the size changes during the time when the offer is being considered. As a result the responder may obtain more information than the proposer. We analyze how the asymmetry in ability to access good information affects the bargaining power, both in terms of the resulting share and in terms of the delay in agreement.


Keywords
   alternating offer bargaining, stochastic surplus, informational advantage

JEL classification codes
   C78
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