Competitive Bargaining Equilibrium Upends Traditional Market Power Dynamics
The study introduces a bargaining method where the end result aligns with fair market prices even when participants have some control and differing levels of patience. Unlike other negotiation methods influenced by power dynamics or impatience, this new method delivers a specific outcome based solely on individual preferences and resources. The research demonstrates that this innovative bargaining technique can offer valuable insights for practical applications, particularly in policy-making contexts.