Bargaining and Information: An Empirical Analysis of a Multistage Arbitration Game
通过实验分析最终报价仲裁中信息不对称的影响，发现允许在提交报价后谈判可将争议率降低27个百分点。
We conduct an experimental analysis of final offer arbitration (FOA) with differentially informed players. Under FOA, the arbitrator must choose one of the two submitted offers. In our control, the uninformed player makes an offer to the informed player prior to the submission of offers to the arbitrator. The treatment allows negotiation after offers are submitted to the arbitrator. Because these offers are potentially binding, they may transmit privately held information and, thereby, lower the dispute rate. We find that allowing negotiation in the face of potentially binding offers lowers the dispute rate by 27 percentage points. Copyright 2001 by University of Chicago Press.