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Equity, Efficiency and Evolutionary Stability in Bargaining Games with Joint Production

  • Manfred Königstein

Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 483)

Table of contents

  1. Front Matter
    Pages i-xii
  2. Manfred Königstein
    Pages 1-4
  3. Manfred Königstein
    Pages 5-32
  4. Back Matter
    Pages 129-202

About this book

Introduction

Result 1.10 Simple equity standards were superior to more complex ones, even though the latter might be economically more relevant. Result 1.11 Equity based on quantity (input) and return (output) was most successful and received a hit rate of almost i within a range of 10%, i.e., within a distance of ±5% of the predicted share. Result 1.12 A substantial share of observations is consistent with egalitarian considerations. 1.7 Summary The study investigates the predictive power of equity theory and strategic concepts within ultimatum bargaining with advance produc­ tion. This is different from many other experimental studies on non­ cooperative bargaining games, since usually the ressource to be dis­ tributed between the subjects is given by the experimenter. Here, the "pie" is produced via joint production effort. This scenario is more general than bargaining without production, and we think it is more natural as well. The description of the raw data showed that the production choices are considerably dispersed, but nevertheless systematically biased to­ ward the respective player's efficient production level. The distribu­ tions of demanded return shares and demanded surplus shares partly replicated findings of other studies; namely, a low percentage of high demands and a considerable proportion of equal surplus splits. But, they also indicate that "advance production" compared to "no pro­ duction" should be considered an important treatment in studies on ultimatum bargaining.

Keywords

Bargaining Evolutionary Game Theory Evolutionäre Spieltheorie Experimental Economics Experimentelle Wirtschaftsforschung STATISTICA Verhandlung game theory

Authors and affiliations

  • Manfred Königstein
    • 1
  1. 1.Institut für Wirtschaftstheorie IIIHumboldt-University at BerlinBerlinGermany

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-642-45782-1
  • Copyright Information Springer-Verlag Berlin Heidelberg 2000
  • Publisher Name Springer, Berlin, Heidelberg
  • eBook Packages Springer Book Archive
  • Print ISBN 978-3-540-66955-5
  • Online ISBN 978-3-642-45782-1
  • Series Print ISSN 0075-8442
  • Buy this book on publisher's site