Disagreement in Markets with Matching and Bargaining

Larry Samuelson

The Review of Economic Studies, 1992, vol. 59, issue 1, 177-185

Abstract: This paper develops an explanation of why bargainers often terminate negotiations in disagreement in spite of positive expected gains from continued negotiation. The key to the analysis is a model which embeds bargaining activity within a market. Agents are continually faced with the choice between continuing to bargain with an existing partner or searching for a new partner. Bargainers may then terminate negotiations without an agreement, in spite of positive expected gains from continued bargaining, because seeking a new bargaining partner promises a higher return.

Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:oup:restud:v:59:y:1992:i:1:p:177-185.

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