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Delays in Bargaining With Incompelete Contracts

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  • Wait, A.

Abstract

Existing theories typically focus on asymmetric information to explain delays in bargaining. This is not always appropriate, particularly when the parties are in a long-term relationship. This paper examines the incentive to delay agreement (or innovation) when: there are multiple bargaining periods; previous outcomes affect the subsequent distribution of surplus; contracts are incomplete; and the parties are wealth constrained.

Suggested Citation

  • Wait, A., 2001. "Delays in Bargaining With Incompelete Contracts," Department of Economics - Working Papers Series 809, The University of Melbourne.
    • Handle: RePEc:mlb:wpaper:809
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    File URL: http://www.economics.unimelb.edu.au/downloads/wpapers-00-01/809.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    CONTRACTS ; INFORMATION ; DISTRIBUTION;
    All these keywords.

    JEL classification:

    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights

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