Download This PaperStrategic Moves
12 Pages Posted: 22 Feb 2005
Date Written: August 20, 2004
Abstract
The article presents theoretical backgrounds and application of game theory in the negotiation process. The repeated Prisoner's Dilemma model is demonstrated, and efficiency of the solution is discussed. The economic and psychological reasons are given to prove that better solution than Nash bargaining equilibrium can be achieved. Then economic theory is confronted with experimental results. And application to the real economy is presented.
Keywords: Prisoner's dilemma, bilateral monopoly, experiment
JEL Classification: C92, C78, L13
Suggested Citation: Suggested Citation
Kotlowski, Ireneusz and Strawinski, Pawel, Strategic Moves (August 20, 2004). Available at SSRN: https://ssrn.com/abstract=669584 or http://dx.doi.org/10.2139/ssrn.669584
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