By Heike Hennig-Schmidt
Bilateral bargaining events are of significant significance actually. conventional microeconomics, although, make cognitive and motivational assumptions of topics` complete rationality which are printed as being unrealistic through increasingly more experimental investigations. the current publication provides a massive contribution to the knowledge of ideas of boundedly rational habit by way of at once looking at teams of matters in a choice state of affairs and videotaping their discussions. an important results of the booklet is that the habit of topics is guided by means of aspirations in regards to the ultimate final result. the degrees of aspirations are motivated via prominence and various types of the fairness precept leading to a number of equity norms as to the allocation of the amount of cash to be divided. one other vital function of the publication stems from the research of holiday off discussions and allows a motivational clarification of the emergence of breakdowns in bargaining.
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Often group members brought contrasting views and deviating concepts to bear in the discussion. By getting familiar with ideas subjects had not been aware of before, the spectrum of decision alternatives available to them was enlarged even though the compulsion to find a joint decision might have reduced the set of choices actually being at disposa1. 48 44Here, we do not take into account the time groups devoted to their negotiations since subjects had different bargaining goals. Some tried to maximize their absolute money payoff.
We conducted the Mann-Whitney-UTest and we did not find significance in the data that the initial demands of ISH-(IWH-)groups are larger than of ISL-(IWL-)groups . 294). 10. We conclude that all characteristics of the bargaining process we tested up to now except the number of proposal rounds do not differ significantly in the aspects analyzed above. 2 Experienced Groups In this section we will look for behavioral features of E-groups that may be distinct from those of I-groups. A first point of interest is the number of proposal rounds in 1- and Esessions.
Bargaining in a Video Experiment: Determinants of Boundedly Rational Behavior by Heike Hennig-Schmidt