Bargaining Power Shapes Societal Outcomes, Efficiency Losses Loom
In this study, researchers looked at how people negotiate with each other. They found that the way individuals negotiate can affect the final outcome. When there are many people involved, there can be different outcomes, some of which are not very efficient. The more people there are, the more likely it is for there to be multiple outcomes. The efficiency of the negotiation can decrease as the discount factor increases.