Description
This book takes three different approaches to the two-person bargaining problem with incomplete information: the game theoretic analysis, the study of the spontaneous behaviour of subjects in a game playing experiment, and the investigation of strategies programmed by highly experienced subjects in a strategy experiment. The two different experimental approaches allow to study the bargaining behaviour which emerges spontaneously in interactive plays of two subjects, and moreover the instructions experienced subjects give to a representative. The three approaches together provide a vivid picture of theoretical and experimentally observed behaviour in the two-person bargaining problem. The synopsis of these different approaches is a novelty in the analysis of boundedly rational behaviour.
