Bargaining and the Right to Remain Silent

  • Ausubel L
  • Deneckere R
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This paper analyzes a class of alternating-offer bargaining games
with one-sided incomplete information for the case of "no gap." If
sequential equilibria are required to satisfy the additional restrictions
of stationarity, monotonicity, pure strategies, and no free screening,
the authors establish the silence theorem: when the time interval
between successive periods is made sufficiently short, the informed
party never makes any serious offers in the play of alternating-offer
bargaining games. A class of parametric examples suggests that the
time interval required to assure silence is not especially brief.
Copyright 1992 by The Econometric Society.

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  • Lawrence M Ausubel

  • Raymond J Deneckere

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