Cooling-off in negotiations

• Titel: Cooling-off in negotiations
• Titelzusatz: does it work?
• Mitwirkende: Oechssler, Joerg
• Mitwirkende: Roider, Andreas
• Mitwirkende: Schmitz, Patrick W.
• Verf.angabe: Jörg Oechssler; Andreas Roider; Patrick W. Schmitz
• Verlagsort: Mannheim
• Verlagsort: Heidelberg
• Verlagsort: Heidelberg
• Verlag: Univ. Mannheim, Sonderforschungsbereich 504
• Verlag: Universitätsbibliothek der Universität Heidelberg
• Verlag: University of Heidelberg, Department of Economics
• E-Jahr: 2008
• Jahr: April 16, 2008
• Jahr: April 16, 2008
• Jahr: April 16, 2008
• Umfang: 1 Online-Ressource
• Gesamttitel/Reihe: Discussion paper series / Universität Heidelberg, Department of Economics ; no. 463
• Gesamttitel/Reihe: Discussion Paper Series / Universität <Heidelberg> / Department of Economics ; 463
• ComputerInfo: Systemvoraussetzungen: Acrobat Reader.
• URN: urn:nbn:de:bsz:180-madoc-20715
• URN: urn:nbn:de:bsz:16-opus-94641
• Schlagwörter: (s)Spieltheorie / (s)Konflikt
• Datenträger: Online-Ressource
• Sprache: eng
• Bibliogr. Hinweis: Erscheint auch als : Buchausg. u.d.T.: Oechssler, Joerg: Cooling-off in negotiations. - Mannheim : Univ. Mannheim, Sonderforschungsbereich 504, 2008. - 33 Bl.
• Sach-SW: negotiations
• Sach-SW: ultimatum game
• Sach-SW: emotions
• Sach-SW: cooling-off
• Sach-SW: cognitive abilities
• Sach-SW: behavioral biases
• Sach-SW: internet experiment
• Form-SW: Arbeitspapier
• Form-SW: Graue Literatur
• K10plus-PPN: 576915750
• K10plus-PPN:
  Universitätsbibliothek
• Lokale URL UB: Zum Volltext

Abstract

Negotiations frequently end in conflict after one party rejects a final offer. In a large-scale internet experiment, we investigate whether a 24-hour cooling-off period leads to fewer rejections in ultimatum bargaining. We conduct a standard cash treatment and a lottery treatment, where subjects receive lottery tickets for several large prizes - emulating a high-stakes environment. In the lottery treatment, unfair offers are less frequently rejected, and cooling-off significantly reduces the rejection rate further. In the cash treatment, rejections are more frequent and remain so after cooling-off. This treatment difference is particularly pronounced for subjects with lower cognitive abilities.