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Negotiations in Stochastic Bargaining Situations: An Experimental Analysis

On 24th  October 2016 (1-2pm) Julia Müller, research associate at the Westfälische Wilhelms-University of Münster, will give a presentation about “Negotiations in Stochastic Bargaining Situations: An Experimental Analysis" in Q4.245. Afterwards, Mrs. Müller will be available for questions and discussions. Her presentation is part of https://wiwi.uni-paderborn.de/dep1/me/research/discussing-research/seam/.

Abstract:

In this laboratory experiment we explore the process and the underlying principles of bargaining within a framework of risk. This is done by means of an experiment with unstructured negotiations where subjects, facing a series of bargaining problems, are allowed to use free form communication. We use the behaviour of the subjects to test for different solution concepts of cooperative game theory. As these concepts resemble the fairness norms (implicitly) applied by the negotiating parties, free communication allows us to get more insights into these fairness perceptions. In particular, the integration of risk into the bargaining framework, enables us to specifically test for the Perles-Maschler solution (against the benchmark of the Nash solution). Furthermore, we analyze in which way subjects in the experiment take advantage of the possibility to reach an agreement early, i.e. before the riskis dissolved.

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