The Impact of Managerial Flexibility on Negotiation Strategy and Bargaining Power

  • Elmar Lukas
  • Andreas Welling
Schlagworte: Real option, game theory, sale, negotiation, flexibility, ultimatum game, JEL: G3, G70, D81

Abstract

Using a dynamic real options approach we show that in a sequential bargaining framework managerial flexibility is strengthening the first-mover advantage by undermining the bargaining power of the second mover. Furthermore we compare the results of the sequential framework with the results of cooperative bargaining.

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2018-10-12
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