Bargaining under large risk - An experimental analysis
Güth,W. Kroger,S. Maug,E.
Güth,W.
Kroger,S.
Maug,E.
Abstract
We experimentally study behavior in bargaining situations under large risks. To implement realistic risks involved in the field, we calibrate the experimental parameters from an environment involving substantial variation in profits, the motion picture industry. The leading example is the production of a movie that may give rise to a sequel, so actors and producers negotiate sequentially. We analyze the data in light of alternative behavioral approaches to understanding bargaining behavior under large risk.
Description
Appeared earlier as CentER DP 2003-117 (revised title)
Date
2009
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Research Projects
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Citation
Güth, W, Kroger, S & Maug, E 2009, 'Bargaining under large risk - An experimental analysis', New Zealand Economic Papers, vol. 43, no. 2, pp. 105-129.