文章基本信息

标题：The Culture of Private Negotiation: Price Drift in Bilateral Bargaining
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作者：Phillips, Owen R. ; Menkhaus, Dale J.
期刊名称：Journal of Food Distribution Research
印刷版ISSN：0047-245X
出版年度：2006
卷号：37
期号：SUPPL
出版社：Food Distribution Research Society
摘要：The culture of private negotiation leads parties to agreements below a price that anchors beginning bids and offers. Possible anchors are a list price or suggested retail price. The anchor may be endogenous, e.g., the average reported trade price from previous trading activity. An endogenous anchor may cause a downward or upward drift in negotiated prices. Using bilateral bargaining data from laboratory experimental markets, this paper demonstrates how price information reports create drifts in negotiated prices. A downward drift is robust and causes sharp declines in total market surplus. Also, relative earnings are distributed toward buyers and away from sellers.