Format du dépôt |
Fichier |
Type de dépôt |
Autre publication scientifique |
Titre |
en
Overestimate yourself or underestimate others? Two sources of bias in bargaining with joint production
|
Résumé |
en
Although conflicts in bargaining have attracted a lot of attention in the literature, situations in which bargainers have to share the product of their performance have been rarely investigated theoretically and empirically. Here, by decomposing the well-known overplacement effect, we show that two types of biases can lead to conflict in these situations: players might be overconfident in their own production (overconfidence bias) and / or underestimate the production of others (other-underestimation bias). To quantify these biases, we develop a novel experimental setting using a psychophysically controlled production task within a bargaining game. In comparison to Bayesian agents, participants tend to disagree too often, partly because they exhibit both cognitive biases. We test interventions to mitigate these biases, and are able to increase settlements mainly by reducing the other-underestimation bias. Our approach illustrates how combining psychophysical methods and economic analyses could prove helpful to identify the impact of cognitive biases on individuals' behavior.
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Auteur(s)
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Quentin Cavalan
1, 2, 3
, Vincent de Gardelle
1, 4, 3
, Jean-Christophe Vergnaud
1, 4
1
CES -
Centre d'économie de la Sorbonne
( 15080 )
- Maison des Sciences Économiques - 106-112 Boulevard de l'Hôpital - 75647 Paris Cedex 13
- France
-
Université Paris 1 Panthéon-Sorbonne UMR8174 ( 7550 )
;
-
Centre National de la Recherche Scientifique UMR8174 ( 441569 )
2
UP1 -
Université Paris 1 Panthéon-Sorbonne
( 7550 )
- 12 place du Panthéon, 75231 Paris Cedex 05
- France
3
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
-
Université Paris 1 Panthéon-Sorbonne ( 7550 )
;
-
École normale supérieure - Paris ( 59704 )
;
-
Université Paris Sciences et Lettres ( 564132 )
;
-
École des hautes études en sciences sociales ( 99539 )
;
-
École des Ponts ParisTech ( 301545 )
;
-
Centre National de la Recherche Scientifique ( 441569 )
;
-
Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement ( 577435 )
4
CNRS -
Centre National de la Recherche Scientifique
( 441569 )
- France
|
Langue du document |
Anglais
|
Vulgarisation |
Non
|
Date de publication |
2020-02
|
Description |
Documents de travail du Centre d'Economie de la Sorbonne 2020.03 - ISSN : 1955-611X
|
Classification |
D - Microeconomics /D.D0 - General /D.D0.D03 - Behavioral Microeconomics: Underlying Principles
|
Nom de la revue |
|
Commentaire |
Mots-clés (JEL) |
-
C - Mathematical and Quantitative Methods/C.C9 - Design of Experiments/C.C9.C91 - Laboratory, Individual Behavior
-
D - Microeconomics/D.D7 - Analysis of Collective Decision-Making/D.D7.D74 - Conflict • Conflict Resolution • Alliances • Revolutions
-
D - Microeconomics/D.D8 - Information, Knowledge, and Uncertainty/D.D8.D81 - Criteria for Decision-Making under Risk and Uncertainty
|
Éditeur scientifique |
-
Centre d'Economie de la Sorbonne (CES - UMR 8174)
|
Domaine(s) |
-
Sciences de l'Homme et Société/Economies et finances
-
Économie et finance quantitative [q-fin]
-
Sciences cognitives/Psychologie
|
Mots-clés |
en
overconfidence, bargaining, joint production, belief updating
|