Bargaining Power in Transactions: A Basic Model of Interpersonal Relationships

Alfred Kuhn

American Journal of Economics and Sociology, 1964, vol. 23, issue 1, 49-49

Abstract: Abstract. Four factors—the value of each of two things to each of two parties—determine the terms, or limits thereof, of all transactions, whether economic and objective or non‐economic and subjective. This relationship is shown to coincide with some existing power‐political, social‐psychological, and economic formulations of bargaining power. These four factors as seen in comparative advantage display quantitatively the conditions for determinate bargaining power. The dichotomy (1) market vs. bargaining power forces is rejected for (2) bargaining power forces vs. strategy and tactics. The transaction is viewed briefly as a system.

Date: 1964
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