Bargaining and Market Behavior in Jerusalem, Ljubljana, Pittsburgh, and Tokyo: An Experimental Study

Alvin Roth, Vesna Prasnikar, Masahiro Okuno-Fujiwara () and Shmuel Zamir ()

American Economic Review, 1991, vol. 81, issue 5, 1068-95

Abstract: In an experiment comparing two-person bargaining and multiperson markets in Israel, Japan, the United States, and Yugoslavia, market outcomes converged to equilibrium everywhere, with no payoff-relevant differences between countries. Bargaining outcomes were everywhere different from equilibrium predictions (both in agreements and in the substantial frequency of disagreements) and differences were observed between countries. Because of the experimental design, the fact that the market behavior is the same in all countries supports the hypothesis that the observed differences are not due to differences in languages, currencies, or experimenters, but may tentatively be attributed to cultural differences. Copyright 1991 by American Economic Association.

Date: 1991
References: Add references at CitEc
Citations: View citations in EconPapers (603) Track citations by RSS feed

Downloads: (external link)
http://links.jstor.org/sici?sici=0002-8282%2819911 ... O%3B2-M&origin=repec full text (application/pdf)
Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.

Related works:
Working Paper: Bargaining and market behavior in Jerusalem, Liubljana, Pittsburgh and Tokyo: an experimental study (1998)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aea:aecrev:v:81:y:1991:i:5:p:1068-95

Ordering information: This journal article can be ordered from
https://www.aeaweb.org/journals/subscriptions

Access Statistics for this article

American Economic Review is currently edited by Esther Duflo

More articles in American Economic Review from American Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Michael P. Albert ().