|Abstract||This paper oﬀers an experimental test of a version of Rubinstein’s bargaining model in which the players’ discount factors are unequal. We ﬁnd that learning, rationality, and fairness are all signiﬁcant in determining the outcome. In particular, we ﬁnd that a model of myopic optimization over time predicts the sign of deviations in the opening proposal from the ﬁnal undiscounted agreement in the previous period rather well. To explain the amplitude of the deviations, we then successfully ﬁt a perturbed version of the model of myopic adjustment to the data that allows for a bias toward refusing inequitable oﬀers|
|Keywords||No keywords specified (fix it)|
|Categories||No categories specified (fix it)|
|Through your library||Only published papers are available at libraries|
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