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The Degree of Information Exchange on the Effectiveness and Efficiency of Cooperation in the Bargaining Game
- 1 University of Wisconsin Madison
- 2 Shanghai Pinghe School
- 3 Beijing No.4 High School
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Abstract
This study extends the understanding of game theory on cooperative utility and efficiency. The paper investigated the literature of Rubinstein Model with perfect information in Game theory by adding authors’ knowledge and experiment of how the degree of information affect effectiveness and efficiency of cooperation. This research is based on previous experiment by designing a new experiment and collecting qualitative data. Allocative efficiency is further discussed in our strategic game setup. Types of motivation were also evaluated in the investigation, including intrinsic, extrinsic, and image motivation, to analyze the possible correlation between players’ strategic behaviors and motivation. Motivation can lead to interactive cooperative behavior, leading to either success or failure of achieving allocative efficiency. This paper also analyzed the reasons behind uncooperative behaviors. Based on the findings, the theory of the importance of incentive-based cooperative behavior in bargaining games has been developed.
Keywords
game theory, Rubinstein Model, allocative efficiency, cooperative behavior, incentive
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Cite this article
Xiong,J.;Wu,Y.;Li,Y. (2023). The Degree of Information Exchange on the Effectiveness and Efficiency of Cooperation in the Bargaining Game. Advances in Economics, Management and Political Sciences,18,101-107.
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The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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Volume title: Proceedings of the 2023 International Conference on Management Research and Economic Development
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