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Bargaining problem


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Economists’ Untold Secrets 016: Nash Bargaining I


The simple psychological trick to exploit when bargaining

Cooperative bargaining is a process in which two people decide how to share a surplus that they can jointly generate. In many cases, the surplus created by the two players can be shared in many ways, forcing the players to negotiate which division of payoffs to choose. Such surplus-sharing problems are faced by management and labor in the division of a firm's profit, by trade partners in the specification of the terms of trade, and more.
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    • Disagreement point 

    • Nash bargaining game 

    • Equilibrium analysis 

    • Nash bargaining solution 

    • Kalai–Smorodinsky bargaining solution 

    • Egalitarian bargaining solution 

    • Applications 

    • Bargaining solutions and risk-aversion