Negotiations with Limited Specifiability

B-Tier
Journal: American Economic Journal: Microeconomics
Year: 2022
Volume: 14
Issue: 1
Pages: 216-44

Authors (2)

Satoshi Fukuda (Santa Clara University) Yuichiro Kamada (not in RePEc)

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We study negotiations with limited specifiability⁠—each party may not be able to fully specify a negotiation outcome. We construct a class of negotiation protocols to conduct comparative statics on specifiability as well as move structures. We find that asynchronicity of proposal announcements narrows down the equilibrium pay-off set, in particular, leading to a unique prediction in negotiations with a "common interest" alternative. The equilibrium payoff set is not a singleton in general, and depends on the fine details of how limitation on specifiability is imposed. The equilibrium payoff set is weakly larger under limited specifiability than under unlimited specifiability.

Technical Details

RePEc Handle
repec:aea:aejmic:v:14:y:2022:i:1:p:216-44
Journal Field
General
Author Count
2
Added to Database
2026-01-25