Multilateral Bargaining Protocols Breed Inefficient Outcomes, Harming Negotiators Worldwide
The article explores how people negotiate in groups by having one-on-one talks to decide who gets what. They look at situations where the negotiation rules are decided as part of the process. The study shows that when people don't value future gains too much, there can be many different fair outcomes, some of which are not very efficient. As more people join the negotiation, there are more possible fair outcomes and the first person to suggest a deal gets a bigger share. Even when people care a lot about future gains, the outcomes can still be unfair.