Economics, Econometrics and Finance
4 years ago

Incomplete Information Boosts Collaboration and Joint Ownership Potential

1 view
Economics Letters
The negotiators who knew too much: Transaction costs and incomplete information
Patrick W. Schmitz

Paper Summary

Two parties can decide to work together in the future, but they must first pay transaction costs. It's better if they don't know the exact surplus they'll generate. In some cases, joint ownership is best even if it wouldn't be with full information.

Related papers

Business, Management and Accounting
5 years ago

Negotiations Failing? This One Trick Could Boost Your Success

Organizational Leadership
Conflict Management
3 views
Business, Management and Accounting
8 years ago

Physician Executives Gain Edge in High-Stakes Negotiations with Interactive Strategies

Organizational Leadership
2 views
Theme background image
Computer Science
8 years ago

Optimal negotiation strategies revealed for maximizing outcomes in complex discussions.

Agent-Based Modeling
Mechanism Design
Network Formation