Aspiration Balancing Agreements: A New Axiomatic Approach to Bounded Rationality in Negotiations

Abstract: A wealth of experimental findings on how real actors do in fact bargain exists. However, as long as there is no systematic general account of the several experiments bargaining theory remains dominated by axiomatic approaches based on normative requirements or on assumptions of full rather than bounded rationality. Contrary to that, the new axiomatic account of aspiration level balancing in negotiations of boundedly rational actors presented in this paper incorporates experimental findings systematically into economic bargaining theory. It thereby forms a descriptive theory of bargaining that has normative power as well.

Object Details

• Location: Deutsche Nationalbibliothek Frankfurt am Main
• Extent: Online-Ressource
• Language: Englisch

References and Relationships

• Bibliographic citation: Aspiration Balancing Agreements: A New Axiomatic Approach to Bounded Rationality in Negotiations ; volume:29 ; number:2 ; year:2007 ; pages:121-138 ; extent:18 ; Analyse & Kritik ; 29, Heft 2 (2007), 121-138 (gesamt 18)

Contributors, Places and Time

• Creator: Ahlert, Marlies

Further information

• DOI: 10.1515/auk-2007-0201
• URN: urn:nbn:de:101:1-2404171636338.815627079134
• Rights: Open Access; Der Zugriff auf das Objekt ist unbeschränkt möglich.
• Last update: 14.08.1970, 12:00 AM CET