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Author: Christian Korth Publisher: Springer Science & Business Media ISBN: 3642022537 Category : Business & Economics Languages : en Pages : 175
Book Description
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.
Author: Christian Korth Publisher: Springer Science & Business Media ISBN: 3642022537 Category : Business & Economics Languages : en Pages : 175
Book Description
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.
Author: John Tomasi Publisher: Princeton University Press ISBN: 0691158142 Category : Business & Economics Languages : en Pages : 380
Book Description
A provocative new vision of free market capitalism that achieves liberal ends by libertarian means Can libertarians care about social justice? In Free Market Fairness, John Tomasi argues that they can and should. Drawing simultaneously on moral insights from defenders of economic liberty such as F. A. Hayek and advocates of social justice such as John Rawls, Tomasi presents a new theory of liberal justice. This theory, free market fairness, is committed to both limited government and the material betterment of the poor. Unlike traditional libertarians, Tomasi argues that property rights are best defended not in terms of self-ownership or economic efficiency but as requirements of democratic legitimacy. At the same time, he encourages egalitarians concerned about social justice to listen more sympathetically to the claims ordinary citizens make about the importance of private economic liberty in their daily lives. In place of the familiar social democratic interpretations of social justice, Tomasi offers a "market democratic" conception of social justice: free market fairness. Tomasi argues that free market fairness, with its twin commitment to economic liberty and a fair distribution of goods and opportunities, is a morally superior account of liberal justice. Free market fairness is also a distinctively American ideal. It extends the notion, prominent in America's founding period, that protection of property and promotion of real opportunity are indivisible goals. Indeed, according to Tomasi, free market fairness is social justice, American style. Provocative and vigorously argued, Free Market Fairness offers a bold new way of thinking about politics, economics, and justice—one that will challenge readers on both the left and right.
Author: Alexander W. Cappelen Publisher: ISBN: 9781848443259 Category : Economics Languages : en Pages : 0
Book Description
A growing literature in economics has studied how fairness considerations shape human behavior. This research collection comprises forty key theoretical and empirical contributions spanning the last four decades, along with influential related work in normative economics. These papers show that the fairness motive is essential for understanding human behavior in a wide range of settings, such as markets, bargaining, and redistributive situations. They document large heterogeneity in what people view as fair and the importance people attach to fairness, displaying how a concern for fairness develops in childhood and manifests itself in the brain. Together with an original introduction by the editors, this volume will be a valuable research tool for those interested in the fascinating field of the economics of fairness.
Author: Marcus Arvan Publisher: Springer ISBN: 1137541814 Category : Philosophy Languages : en Pages : 282
Book Description
Rightness as Fairness provides a uniquely fruitful method of 'principled fair negotiation' for resolving applied moral and political issues that requires merging principled debate with real-world negotiation.
Author: Nicolas Baumard Publisher: Oxford University Press ISBN: 0190210222 Category : Philosophy Languages : en Pages : 273
Book Description
Develops further John Rawls' intuition that our sense of justice is rooted in our evolutionary past and presents a new theory of morality based on evolutionary biology.
Author: Lee Anne Fennell Publisher: Edward Elgar Publishing ISBN: 9781781005293 Category : Cost effectiveness Languages : en Pages : 0
Book Description
Although the relationship between fairness and the economic concept of efficiency is usually cast as an adversarial one, this collection demonstrates the robust and diverse ways in which economics engages - and cannot avoid engaging - with fairness. Part I contains papers presenting positive analyses of fairness preferences and beliefs, which are fundamental means through which fairness matters for economic models. Part II turns to normative analysis and the broad question of how law should reconcile fairness and efficiency considerations. Part III presents a sampling of legal and policy applications in which both fairness and efficiency considerations prove important. Along with an original introduction by the editors this is a must-have volume that will appeal to students, academics and practitioners who are interested in this exciting field.
Author: Roger Fisher Publisher: Houghton Mifflin Harcourt ISBN: 9780395631249 Category : Business & Economics Languages : en Pages : 242
Book Description
Describes a method of negotiation that isolates problems, focuses on interests, creates new options, and uses objective criteria to help two parties reach an agreement.
Author: Cecilia Albin Publisher: Cambridge University Press ISBN: 9780521797252 Category : Law Languages : en Pages : 286
Book Description
International negotiations have become an increasingly widespread feature of international affairs, as the number of parties involved have grown, and regional and global fora have multiplied. Cecilia Albin examines the role of considerations of justice and fairness in these negotiations. She argues that negotiators do not simply pursue their narrow interests or those of their countries, but regularly take principles of justice and fairness into account. These principles come into play at an early stage, as talks are structured and agendas set; in the bargaining process itself; and in the implementation of and compliance with agreements. The analysis is based on cases in four important areas: the environment; international trade; ethnic conflict (the Israeli-Palestinian conflict); and arms control. Drawing on a mass of empirical data, including a large number of interviews, this book relates the abstract debate over international norms and ethics to the realities of international relations.
Author: Aaron James Publisher: OUP USA ISBN: 0199846154 Category : Business & Economics Languages : en Pages : 381
Book Description
In this book, the author argues that to achieve a fair global economy, there must be compensation of people harmed by their exposure to the global economy, but also equal division of the "gains of trade" across societies.
Author: Vernon L. Smith Publisher: Cambridge University Press ISBN: 0521584507 Category : Business & Economics Languages : en Pages : 474
Book Description
This second Cambridge University Press collection of papers by Vernon L. Smith, a creator of the field of experimental economics, includes many of his primary authored and coauthored contributions on bargaining and market behavior between 1990 and 1998. The essays explore the use of laboratory experiments to test propositions derived from economics and game theory. They also investigate the relationship between experimental economics and psychology, particularly the field of evolutionary psychology, using the latter to broaden the perspective in which experimental results are interpreted. The volume complements Professor Smith's earlier work by demonstrating the importance of institutional features of markets in understanding behavior and market performance. Specific themes investigated include rational choice, the notion of fairness, game theory and extensive form experimental interactions, institutions and market behavior, and the study of laboratory stock markets.
Author: Christian Korth
Author: Christian Korth
Author: John Tomasi
Author: Alexander W. Cappelen
Author: Marcus Arvan
Author: Nicolas Baumard
Author: Lee Anne Fennell
Author: Roger Fisher
Author: Cecilia Albin
Author: Aaron James
Author: Vernon L. Smith