Waiting to persuade
Our rough guess is there are 4,000 words in this book.
At a pace averaging 250 words per minute, this book will take 0 hours and 16 minutes to read. With a half hour per day, this will take 1 days to read.
How long will it take you?
This book will take an estimated to read at a reading speed averaging words per minute. With 30 minutes per day, this will take to read.
Enter your reading speedYou can take one of our WPM reading speed tests to find your reading speed.
Create a free account to track your reading progress, build your reading list, and set reading goals.
Author
Contributions
- Massachusetts Institute of Technology. Dept. of Economics - Contributor
Publication
2002 - Massachusetts Institute of Technology, Dept. of Economics, Cambridge, MA, Massachusetts
Language
English
Word Count
4,000 words, Guess
Page Count
16 pages
Identifiers
- Internet Archivewaitingtopersuad00yild
- OCLC Control Number51798298
- Open LibraryOL24643878M
Description
I analyze a sequential bargaining model in which players are optimistic about their bargaining power (measured as the probability of making offers), but learn as they play the game. I show that there exists a uniquely predetermined settlement date, such that in equilibrium the players always reach an agreement at that date, but never reach one before it. Given any discount rate, if the learning is sufficiently slow, the players agree immediately. I show that, for any speed of learning, the agreement is delayed arbitrarily long, provided that the players are sufficiently patient. Therefore, although excessive optimism alone cannot cause delay, it can cause long delays if the players are expected to learn. Keywords: Bargaining, Misperception, Optimism, Delay, Learning. JEL Classification: C72, C78, D74, D83.
Subjects
Series Statement
- Working paper series / Massachusetts Institute of Technology, Dept. of Economics -- working paper 02-38
- Working paper (Massachusetts Institute of Technology. Dept. of Economics) -- no. 02-38.
Reader Reviews
No reviews yet for this book.
Be the first to share your thoughts!