Negotiation theory and its applications

Author: (USA) Muthoo, A. Translated by Guan Yi-ping et al.
Publisher:
Publish Date: 2005-12-01
Features: Professor Muthoo's book encompasses the rich literature on the alternating-offer bargaining model that has developed since the publication of Rubinstein's classic paper. Starting from the rational Nash equilibrium, the book introduces the Rubinstein model and provides a comprehensive discussion of a series of important extensions. Although most of the book focuses on the single bargaining problem under complete information, there is a productive chapter on asymmetric information and another on important bargaining scenarios. The strengths of the book lie in its clear and precise style, the comprehensiveness of its analysis, and its insightful and beneficial theoretical applications to real-world economic problems, which permeate the entire text. The book can serve as a textbook for a semester-long graduate course on bargaining and game theory; it can also be a valuable reference for any economist seeking to delve into the subject. — New York University, Douglas Gale For the expansion of recent bargaining literature, Muthoo has done an outstandingly comprehensive job. The book is thorough, easy to understand, and rich in interesting applications. For upper-level undergraduates and graduate students, it will be a resource that will benefit them throughout their careers. — Harvard University What does it mean to be in a strong bargaining position or a weak bargaining position? Since the early 1980s, economists have traveled a long way in understanding the logic of bargaining. Abhinay Muthoo's book provides a very valuable resource. It is beneficial for game theorists seeking a comprehensive overview of bargaining theory and for economists seeking to apply this theory to labor, trade, business, or other types of negotiations. — University of California, San Diego, John McMillan Abhinay Muthoo is an economics professor at Essex University. He studied at the London School of Economics and the University of Cambridge. Professor Muthoo has published papers on bargaining theory, game theory, and other research areas in journals such as the Review of Economic Studies, the Journal of Economic Theory, Games and Economic Behavior, and the Economic Journal. The book offers a unified approach to bargaining theory and contains new conclusions, making it half a textbook and half a research monograph. Therefore, it will be helpful not only for graduate students interested in bargaining scenarios (which arise in many economic and political fields) and professional applied economists and political scientists but also for scholars of bargaining theory and game theory. The book can be used to learn bargaining theory and improve understanding of it. Furthermore, it should help researchers apply the theory and/or construct models of specific real-life bargaining scenarios that interest them. Chapter 1 introduces several basic issues and provides an outline of the book. The development of bargaining theory and its applications is covered in Chapters 2–10. The final chapter (Conclusion), Chapter 11, focuses on some of the main omissions and weaknesses of the theories developed in the book, confirming the specific paths and future research topics needed for further development of bargaining theory and its applications.