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Efficiency, equality, and labeling : an experimental investigation of focal points in explicit bargaining
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Isoni, Andrea, Poulsen, Anders, Sugden, Robert and Tsutsui, Kei (2014) Efficiency, equality, and labeling : an experimental investigation of focal points in explicit bargaining. American Economic Review, 104 (10). pp. 3256-3287. doi:10.1257/aer.104.10.3256
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Official URL: http://dx.doi.org/10.1257/aer.104.10.3256
Abstract
We investigate Schelling's hypothesis that payoff-irrelevant labels ("cues") can influence the outcomes of bargaining games with communication. In our experimental games, players negotiate over the division of a surplus by claiming valuable objects that have payoff-irrelevant spatial locations. Negotiation occurs in continuous time, constrained by a deadline. In some games, spatial cues are opposed to principles of equality or efficiency. We find a strong tendency for players to agree on efficient and minimally unequal payoff divisions, even if spatial cues suggest otherwise. But if there are two such divisions, cues are often used to select between them, inducing distributional effects.
| Item Type: | Journal Article | ||||
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| Divisions: | Faculty of Social Sciences > Warwick Business School > Behavioural Science Faculty of Social Sciences > Warwick Business School |
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| Journal or Publication Title: | American Economic Review | ||||
| Publisher: | American Economic Association | ||||
| ISSN: | 0002-8282 | ||||
| Official Date: | October 2014 | ||||
| Dates: |
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| Date of first compliant deposit: | 26 July 2019 | ||||
| Volume: | 104 | ||||
| Number: | 10 | ||||
| Page Range: | pp. 3256-3287 | ||||
| DOI: | 10.1257/aer.104.10.3256 | ||||
| Status: | Peer Reviewed | ||||
| Publication Status: | Published | ||||
| Publisher Statement: | "Copyright © 1998, 1999, 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018 by the American Economic Association. Permission to make digital or hard copies of part or all of American Economic Association publications for personal or classroom use is granted without fee provided that copies are not distributed for profit or direct commercial advantage and that copies show this notice on the first page or initial screen of a display along with the full citation, including the name of the author. Copyrights for components of this work owned by others than AEA must be honored. Abstracting with credit is permitted. The author has the right to republish, post on servers, redistribute to lists and use any component of this work in other works. For others to do so requires prior specific permission and/or a fee. Permissions may be requested from the American Economic Association Administrative Office by going to the Contact Us form and choosing ""Copyright/Permissions Request"" from the menu. " | ||||
| Access rights to Published version: | Open Access |
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