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Bargaining 101 (#22): Uncertainty and Bargaining Failure

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Published on Dec 8, 2014

Game Theory 101: Bargaining: http://www.amazon.com/gp/product/B00M...

Unfortunately, the game with uncertainty from last time leads to inefficient outcomes: even though both parties would prefer to negotiate, the parties nevertheless suffer from bargaining breakdown. Uncertainty is therefore detrimental to successful negotiations.

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