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Focal points in tacit bargaining problems : experimental evidence
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Isoni, Andrea, Poulsen, Anders, Sugden, Robert and Tsutsui, Kei (2013) Focal points in tacit bargaining problems : experimental evidence. European Economic Review , Volume 59 . pp. 167-188. doi:10.1016/j.euroecorev.2012.12.005 ISSN 0014-2921.
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Official URL: http://dx.doi.org/10.1016/j.euroecorev.2012.12.005
Abstract
We use a new experimental design to test Schelling's hypotheses about the nature and effectiveness of focal points in tacit bargaining problems. In our design, as in many real-world bargaining problems, each player's strategies are framed as proposals about what part of a stock of valuable objects she is to take, and there are payoff-irrelevant cues which define relations between players and objects. In line with Schelling's hypotheses, we find that such cues serve as powerful focal points. Their presence increases efficiency even in games where there is no efficient and equal division, and induces systematically unequal payoff distributions.
| Item Type: | Journal Article | ||||
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| Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HG Finance |
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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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| Library of Congress Subject Headings (LCSH): | Economics, Economics, Mathematical, Economics -- Sociological aspects | ||||
| Journal or Publication Title: | European Economic Review | ||||
| Publisher: | Elsevier | ||||
| ISSN: | 0014-2921 | ||||
| Official Date: | 2013 | ||||
| Dates: |
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| Volume: | Volume 59 | ||||
| Page Range: | pp. 167-188 | ||||
| DOI: | 10.1016/j.euroecorev.2012.12.005 | ||||
| Status: | Peer Reviewed | ||||
| Publication Status: | Published | ||||
| Access rights to Published version: | Open Access (Creative Commons) | ||||
| Date of first compliant deposit: | 24 December 2015 | ||||
| Date of first compliant Open Access: | 24 December 2015 | ||||
| Funder: | Economic and Social Research Council (Great Britain) (ESRC), Leverhulme Trust (LT) | ||||
| Grant number: | RES-000–22-3322 (ESRC), F/00204/AV (LT) |
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