EconPapers    
Economics at your fingertips  
 

Bargaining with Deadlines and Imperfect Player Control

Ching-to Ma () and Michael Manove ()

Econometrica, 1993, vol. 61, issue 6, 1313-39

Abstract: This paper presents a game of strategic bargaining under deadlines whose equilibrium conforms to anecdotal and experimental information about real-life bargaining sessions. The model operates in continuous time and incorporates possible strategic delay and imperfect player control over the timing of offers (modeled by means of an exogenous random delay). In the unique symmetric Markov-perfect equilibrium, players adopt strategic delay early in the game, make and reject offers later on, and usually reach agreements late in the game, though they miss the deadline with positive probability. The expected division of the surplus is close to an even split. Copyright 1993 by The Econometric Society.

Date: 1993
References: Add references at CitEc
Citations: View citations in EconPapers (43) Track citations by RSS feed

Downloads: (external link)
http://links.jstor.org/sici?sici=0012-9682%2819931 ... O%3B2-N&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 with Deadlines and Imperfect Player Control (1991)
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:ecm:emetrp:v:61:y:1993:i:6:p:1313-39

Ordering information: This journal article can be ordered from
https://www.economet ... ordering-back-issues

Access Statistics for this article

Econometrica is currently edited by Daron Acemoglu

More articles in Econometrica from Econometric Society Contact information at EDIRC.
Bibliographic data for series maintained by Wiley-Blackwell Digital Licensing ().

 
Page updated 2019-10-04
Handle: RePEc:ecm:emetrp:v:61:y:1993:i:6:p:1313-39