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Personal Power Dynamics in Bargaining

Author

Listed:
  • Renee Bowen
  • Ilwoo Hwang
  • Stefan Krasa

Abstract

We study bargaining between a fixed agenda-setter and responder over successive issues. If the responder rejects the setter’s proposal, the setter can attempt to assert her will to implement her ideal and will succeed with a probability that depends on her “personal power”. Players learn about the setter’s power as gridlock persists. Gridlock occurs when the setter’s perceived power is either too high or too low, and the players reach compromise when the setter has moderate personal power. The presence of “difficult” issues can induce more compromise as the players have incentives to avoid testing the setter’s power.

Suggested Citation

  • Renee Bowen & Ilwoo Hwang & Stefan Krasa, 2020. "Personal Power Dynamics in Bargaining," NBER Working Papers 27981, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:27981
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    2. Hwang, Ilwoo & Krasa, Stefan, 2023. "Leadership ability and agenda choice," Games and Economic Behavior, Elsevier, vol. 142(C), pages 179-192.

    More about this item

    JEL classification:

    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances; Revolutions
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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