Asymmetric Information, Bargaining, and Unemployment Fluctuations

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Asymmetric Information, Bargaining, and Unemployment Fluctuations

Asymmetric Information, Bargaining, and Unemployment Fluctuations Author(s): Daron Acemoglu Source: International Economic Review, Vol. 36, No. 4 (Nov., 1995), pp. 1003-1024 Published by: Blackwell Publishing for the Economics Department of the University of Pennsylvania and Institute of Social and Economic Research -Osaka University Stable URL: http://www.jstor.org/stable/2527270 Accessed: 11/...

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Private Information, Wage Bargaining and Employment Fluctuations

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Rhetoric in Legislative Bargaining with Asymmetric Information

We analyze a three-player legislative bargaining game over an ideological and a distributive decision. Legislators are privately informed about their ideological intensities, i.e., the weight placed on the ideological decision relative to the weight placed on the distributive decision. Communication takes place before a proposal is offered and majority rule voting determines the outcome. We sho...

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Pretrial Bargaining with Self-Serving Bias and Asymmetric Information

We introduce self-serving bias into the Bebchuk (1984) model in which trials result from asymmetric information and characterize the equilibrium. An increase in the self-serving bias of a defendant who receives an offer can, under some circumstances, reduce the incidence of trial. More typically, however, we find that an increase in the self-serving bias of either player increases the incidence...

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Bargaining under Asymmetric Information and the Hold-up Problem

The hold-up problem is considered a fundamental determinant of contractual and organizational structure. We study a model in which players first make relation-specific investments and then bargain over the price to exchange a good. We present a new form of misallocation of resources that may arise if one of the sides has private information in the bargaining phase. In general, the outcome of ba...

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ژورنال

عنوان ژورنال: International Economic Review

سال: 1995

ISSN: 0020-6598

DOI: 10.2307/2527270