Bargaining and Group Decision Making: Experiments in Bilateral Monopoly is a book written by Sidney Siegel that explores the dynamics of bargaining and decision-making in situations of bilateral monopoly. The book is based on a series of experiments conducted by the author, which involve pairs of players negotiating over the allocation of a fixed resource. The experiments are designed to test various theories of bargaining and decision-making, and to investigate the effects of different factors on the outcomes of ...
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Bargaining and Group Decision Making: Experiments in Bilateral Monopoly is a book written by Sidney Siegel that explores the dynamics of bargaining and decision-making in situations of bilateral monopoly. The book is based on a series of experiments conducted by the author, which involve pairs of players negotiating over the allocation of a fixed resource. The experiments are designed to test various theories of bargaining and decision-making, and to investigate the effects of different factors on the outcomes of negotiations.The book begins with an introduction to the concept of bilateral monopoly, which refers to a situation in which there is only one buyer and one seller of a particular good or service. The author then outlines the various theories of bargaining that have been proposed over the years, including the Nash bargaining solution, the Rubinstein bargaining model, and the Kalai-Smorodinsky bargaining solution.The remainder of the book is devoted to a detailed description of the experiments conducted by the author. These experiments involve pairs of players who are given a fixed amount of money and are asked to negotiate over how to divide it between them. The author varies a number of different factors in the experiments, such as the initial endowments of the players, the timing of the negotiations, and the presence or absence of a third-party mediator.The results of the experiments are analyzed in detail, and the author draws a number of conclusions about the dynamics of bargaining and decision-making in situations of bilateral monopoly. The book is written in a clear and accessible style, and is suitable for anyone interested in the topics of bargaining, decision-making, and game theory.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.
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