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Cooling-off in negotiations: does it work?

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Negotiations frequently end in conflict after one party rejects a final offer. In a large-scale internet experiment, we investigate whether a 24-hour cooling-off period leads to fewer rejections in ultimatum bargaining. We conduct a standard cash treatment and a lottery treatment, where subjects rec...

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Bibliographic Details
Other Authors: Oechssler, Joerg (Other) , Roider, Andreas (Other) , Schmitz, Patrick W. (Other)
Format: Book/Monograph Working Paper
Language:English
Published: Mannheim Univ. Mannheim, Sonderforschungsbereich 504 April 16, 2008
Heidelberg Universitätsbibliothek der Universität Heidelberg April 16, 2008
Heidelberg University of Heidelberg, Department of Economics April 16, 2008
Series:Discussion paper series / Universität Heidelberg, Department of Economics no. 463
Discussion Paper Series / Universität <Heidelberg> / Department of Economics 463
In: Discussion paper series (no. 463)

Subjects:
Arbeitspapier
Graue Literatur
Konflikt
Spieltheorie
Online Access:Resolving-System, kostenfrei, Volltext: http://nbn-resolving.de/urn:nbn:de:bsz:180-madoc-20715
Resolving-System, kostenfrei, Volltext: http://nbn-resolving.de/urn:nbn:de:bsz:16-opus-94641
Verlag, Volltext: http://www.awi.uni-heidelberg.de/with2/Discussion%20papers/papers/dp463.pdf
Resolving-System, Volltext: http://hdl.handle.net/10419/127281
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Author Notes:Jörg Oechssler; Andreas Roider; Patrick W. Schmitz
Description
Summary:Negotiations frequently end in conflict after one party rejects a final offer. In a large-scale internet experiment, we investigate whether a 24-hour cooling-off period leads to fewer rejections in ultimatum bargaining. We conduct a standard cash treatment and a lottery treatment, where subjects receive lottery tickets for several large prizes - emulating a high-stakes environment. In the lottery treatment, unfair offers are less frequently rejected, and cooling-off significantly reduces the rejection rate further. In the cash treatment, rejections are more frequent and remain so after cooling-off. This treatment difference is particularly pronounced for subjects with lower cognitive abilities.
Physical Description:Online Resource
Format:Systemvoraussetzungen: Acrobat Reader.

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