Real time tacit bargaining, payoff focality, and coordination complexity: Experimental evidence

Wolfgang Luhan, Anders Poulsen () and Michael Roos ()

No 15-11, Working Paper series, University of East Anglia, Centre for Behavioural and Experimental Social Science (CBESS) from School of Economics, University of East Anglia, Norwich, UK.

Abstract: We report experimental data from a bargaining situation where two decision makers tacitly make their decisions, and earn and cumulate their payoffs in real time. Examples include fishermen choosing fishing spots, interaction among neighbors who prefer not to talk, military conflict, and tacit duopoly. The data can be organized and explained in terms of focal properties of feasible payoffs, and the complexity of coordinating on the intertemporal behavior required to achieve these payoffs. Bargainers trade off payoff focality and coordination complexity, and behavior can be systematically inefficient.

Keywords: bargaining; real time interaction; payoff focality; coordination complexity; bounded rationality (search for similar items in EconPapers)
JEL-codes: C70 C72 C92 (search for similar items in EconPapers)
Date: 2015-07-15
New Economics Papers: this item is included in nep-exp and nep-gth
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Journal Article: Real-time tacit bargaining, payoff focality, and coordination complexity: Experimental evidence (2017)
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