What price fairness? A bargaining study
Article Abstract:
The bargaining behavior of individuals has been found to be influenced by the degree of strategic advantage and the favoured party's fairness perception. A study involving 302 male and female students at the Hong Kong University of Science and Technology showed that the level of willingness manifested by an individual with a strong bargaining position tend to be high if the risk at stake is relatively low. The same is true for individuals confronted with smaller material cost sacrifice. Empirical results further prove that low-cost players tend to exploit cost advantages to acquire strategic power but the degree of exploitation is dependent on the cost of rejection. The study also confirmed the assumption that proportion of disadvantageous counter-offers made by a disadvantaged player follows an indirect pattern.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1999
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Asymmetric players and bargaining for profit shares in natural resource development
Article Abstract:
Natural resource development agreements depend on the relative bargaining power levels of host country governments and multinational corporations or agents. Share contracts are emphasized in which a part of net firm income from resource development is given to the government. It is shown that as the number of agents increases, the governments receive a higher share. When either player is capable of threatening the other, the threatening party is found to receive a larger share. Host governments that share in production expenses also tend to receive greater shares.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1987
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Dynamic bargaining with transaction costs
Article Abstract:
The bargaining process involves making offers and counteroffers until the buyer and the seller reach an agreement or until one of the parties ceases to negotiate. Strategic bargaining is characterized by impatience to strike a deal which stems from the trader's consideration of future payoffs and the transaction bargaining costs. The amount of gains from trade and the relative costs of bargaining determine whether, in equilibrium, there will be immediate trade, delayed trade, or immediate termination of transactions.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1991
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