POLITICAL BRINKMANSHIP AND COMPROMISE
研究两方谈判中，以“不成功便成仁”的威胁结束谈判如何影响僵局和福利。发现边缘政策虽能提高协议达成概率，但也增加危机风险，且在僵局严重时反而降低整体福利。
Abstract We study how do‐or‐die threats ending negotiations affect gridlock and welfare when two opposing parties bargain. Failure to agree on a deal in any period implies a continuation of the negotiation. However, under brinkmanship, agreement failure in any period may precipitate a crisis with a small chance. In equilibrium, such brinkmanship threats improve the probability of an agreement, but also increase the risk of crisis. Brinkmanship reduces welfare when one might think it is most needed: severe gridlock. In this case, despite this global welfare loss, a party has incentives to use brinkmanship strategically to obtain a favorable bargaining position.