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Joint Outside Options

Author

Listed:
  • Paola Manzini

    (Queen Mary & Westfield College)

  • Marco Mariotti

    (University of Exeter)

Abstract

Several contractual situations are such that the parties may `step out' of negotiations and take up outside opportunities only if there is mutual consent to do so. Examples include some forms of employer- employee negotiations, divorce procedures and arbitration. To analyse such cases we develop the general concept of a `joint outside option' and study its effect in the standard bargaining game. Examples from the economics of divorce and theory of the firm are considered in some depth.

Suggested Citation

  • Paola Manzini & Marco Mariotti, 1999. "Joint Outside Options," Game Theory and Information 9901001, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpga:9901001
    Note: Type of Document - pdf; prepared on PC-TEX; to print on HP;
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/game/papers/9901/9901001.pdf
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    Cited by:

    1. María Mercedes Adamuz & Clara Ponsatí, 2009. "Arbitration systems and negotiations," Review of Economic Design, Springer;Society for Economic Design, vol. 13(3), pages 279-303, September.

    More about this item

    Keywords

    Bargaining;

    JEL classification:

    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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