Bargaining power shifts to proposers, leaving competitors in the dust
The article explores a bargaining situation where people compete for the chance to make proposals during negotiations. This competition can lead to delays and extra costs. The researchers developed a method to understand all possible outcomes, showing that certain scenarios can lead to one person getting most of the benefits while others compete less. They also discovered that some unequal strategies can be more effective than a fair, balanced one. These insights suggest that in certain situations, one person can end up with a lot of the rewards, even as competition diminishes.