Bargaining with Two-Person-Groups - On the Insignificance of the Patient Partner

29 Pages Posted: 14 Mar 2013

See all articles by Oliver Kirchkamp

Oliver Kirchkamp

University of Jena - Economics Department; CESifo (Center for Economic Studies and Ifo Institute)

Ulrike Vollstädt

University of Duisburg-Essen

Date Written: March 13, 2013

Abstract

Although many real bargaining situations involve more than two people, much of the theoretical and experimental research concentrates on the two player situation. We study the simplest possible extension: four people (two two-person groups) of different patience bargain with each other. Theoretically, only the more patient member of each group should be relevant for the outcome. The less patient members would agree to any outcome and are, hence, irrelevant. We find, however, that the impact of the patient member can be quite small.

Keywords: bargaining experiment, heterogeneous group members

JEL Classification: C780, D740

Suggested Citation

Kirchkamp, Oliver and Vollstädt, Ulrike, Bargaining with Two-Person-Groups - On the Insignificance of the Patient Partner (March 13, 2013). CESifo Working Paper Series No. 4150. Available at SSRN: https://ssrn.com/abstract=2232699

Oliver Kirchkamp (Contact Author)

University of Jena - Economics Department ( email )

Carl-Zeiss-Str. 3
Jena, 07737
Germany

HOME PAGE: http://www.kirchkamp.de/

CESifo (Center for Economic Studies and Ifo Institute) ( email )

Poschinger Str. 5
Munich, DE-81679
Germany

HOME PAGE: http://www.kirchkamp.de/

Ulrike Vollstädt

University of Duisburg-Essen ( email )

Lotharstrasse 1
Duisburg, 47048
Germany

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