In their article “Explaining Bargaining Impasse: The Role of Self-Serving Biases”, (JEP, Winter 1997), Babcock and Loewenstein (hereafter BL) invoke the notion of selfserving biases to account for behavior in a rich variety of settings, for instance, the failure to reach an agreement in laboratory bargaining games, the behavior of job searchers, and the discrepancy between plaintiffs’ and defen...