Fairness in Bargaining and Markets is popular PDF and ePub book, written by Christian Korth in 2009-07-25, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Fairness in Bargaining and Markets can be Read Online from any device for your convenience.
Fairness in Bargaining and Markets Book PDF Summary
This book focuses on economic bargaining theory. Economic bargaining theory seeks to predict the outcomes of bargaining situations. In such situations, govern ments, ?rms, or individuals share a mutual interest in cooperation; however, they also have con?icting interests regarding the terms of an agreement. A classic ex ample of such a situation is wage bargaining between unions and employers. More commonplace examples also exist. For instance, a discussion between partners on how to spend an evening can be understood as a bargaining situation. Economic bargaining theory explores the relationship between bargaining situ ations and the outcomes of the bargaining. Economists have two primary reasons to show interest in this relationship. The ?rst reason is that many important human interactions, including economic interactions, are bargaining situations. The second reason is that the understanding of these situations may inform the economic theory of markets. The tool utilized in this study is the mathematical theory of games. Predictions for bargaining outcomes are developed by modeling the bargaining situation as a strategic game and using game theoretic equilibrium concepts in order to solve the game. In this approach, the speci?c identi?ed bargaining outcome depends on the assumptions underlying the model. The neoclassical and fundamental assumption is that of rational agents—called economic men—who strive to maximize their utility based on stable preferences.
Detail Book of Fairness in Bargaining and Markets PDF
- Author : Christian Korth
- Release : 25 July 2009
- Publisher : Springer Science & Business Media
- ISBN : 9783642022531
- Genre : Business & Economics
- Total Page : 175 pages
- Language : English
- PDF File Size : 21,5 Mb
If you're still pondering over how to secure a PDF or EPUB version of the book Fairness in Bargaining and Markets by Christian Korth, don't worry! All you have to do is click the 'Get Book' buttons below to kick off your Download or Read Online journey. Just a friendly reminder: we don't upload or host the files ourselves.