2. Threat points (20 points) Lisa and Malka are bargaining over a split of a unit of...

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2. Threat points (20 points) Lisa and Malka are bargaining over a split of a unit of a resource. Denote Lisa by L and Malka by M . We can model their outcome using the Nash bargaining solution with L = M = 0.5. Suppose that Lisa's threat point is zero, that is u0L = 0. Find the outcome of Lisa and Malka's bargaining process as a function of Malka's threat point, u0M . (Hint: Since there is a single unit of the resource, we can define uM = 1 uL. This should allow you to set up a maximization problem with a single choice variable, and solve it with respect to u0M )

Posted Date: Jul 02, 2024 05:17 AM

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2. Threat points (20 points) Lisa and Malka are bargaining over a split of a unit of...

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