On the empirical validity of axioms in unstructured bargaining
Abstract
We report experimental results and test axiomatic models of unstructured bargaining by checking the empirical relevance of the underlying axioms. Our data support strong efficiency, symmetry, independence of irrelevant alternatives and monotonicity, and reject scale invariance. Individual rationality and midpoint domination are violated by a significant fraction of agreements that implement equal division in highly unequal circumstances. Two...
Paper Details
Title
On the empirical validity of axioms in unstructured bargaining
Published Date
May 1, 2020
Journal
Volume
121
Pages
117 - 145
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