Bargaining In The Shadow Of The Market: Selected Papers On Bilateral And Multilateral Bargaining


Book Description

Bargaining in the Shadow of the Market — Selected Papers on Bilateral and Multilateral Bargaining consists of selected research in bargaining carried out by Kalyan Chatterjee by himself and with various co-authors. Chatterjee has been one of the earliest researchers to work on noncooperative bargaining theory and has contributed to bilateral bargaining with parties having private information as well as multilateral coalition formation models. Some of his work in each of these areas finds place here.The main theme of this collection of papers is the nature of negotiations when participants have alternatives to continue negotiating, either by beginning negotiations with a different partner or set of partners or by engaging in time-consuming search for such partners. Chapters in this book include: a noncooperative theory of coalitional bargaining and features a laboratory experiment relevant to this theory as well as an extension to political negotiations, search for alternative partners, the effect of markets and bargaining on incentives of players to invest in the partnership and related papers on incentive compatibility, arbitration and a dynamic model of negotiation. The book also includes a new introduction that puts these papers in the context of the broader literature in the field.




Bargaining in the Shadow of the Market


Book Description

Bargaining in the Shadow of the Market OCo Selected Papers on Bilateral and Multilateral Bargaining consists of selected research in bargaining carried out by Kalyan Chatterjee by himself and with various co-authors. Chatterjee has been one of the earliest researchers to work on noncooperative bargaining theory and has contributed to bilateral bargaining with parties having private information as well as multilateral coalition formation models. Some of his work in each of these areas finds place here.The main theme of this collection of papers is the nature of negotiations when participants have alternatives to continue negotiating, either by beginning negotiations with a different partner or set of partners or by engaging in time-consuming search for such partners. Chapters in this book include: a noncooperative theory of coalitional bargaining and features a laboratory experiment relevant to this theory as well as an extension to political negotiations, search for alternative partners, the effect of markets and bargaining on incentives of players to invest in the partnership and related papers on incentive compatibility, arbitration and a dynamic model of negotiation. The book also includes a new introduction that puts these papers in the context of the broader literature in the field.







Eclipse: Living in the Shadow of China's Economic Dominance


Book Description

By most accounts, China has quickly grown into the second largest economy in the world. In this controversial new book, Subramanian argues that China has already become the most economically dominant country in the world in terms of wealth, trade and finance. Its dominance and eclipsing of US global economic power is more imminent, more broad-based and larger in magnitude than anyone has anticipated. Subramanian compares the economic dominance of China with that of the two previous economic superpowers--the United States and the United Kingdom--and highlights similarities and differences. One corollary is that the fundamentals are strong for the Chinese currency to replace the dollar as the world's reserve currency. The final chapter forecasts how the international economic system is likely to evolve as a result of Chinese dominance.




Advances in Negotiation Theory


Book Description

Abstract: Bargaining is ubiquitous in real life. It is a major dimension of political and business activities. It appears at the international level, when governments negotiate on matters ranging from economic issues (such as the removal of trade barriers), to global security (such as fighting against terrorism) to environmental and related issues (such as climate change control). What factors determine the outcomes of such negotiations? What strategies can help reach an agreement? How should the parties involved divide the gains from cooperation? With whom will one make alliances? The authors address these questions by focusing on a noncooperative approach to negotiations, which is particularly relevant for the study of international negotiations. By reviewing noncooperative bargaining theory, noncooperative coalition theory, and the theory of fair division, they try to identify the connections among these different facets of the same problem in an attempt to facilitate progress toward a unified framework.




The Economics of the World Trading System


Book Description

World trade is governed by the rules of the World Trade Organization (WTO), the successor to the General Agreement on Tariffs and Trade (GATT). The WTO sets rules of conduct for the international trade of goods and services and for intellectual property rights, provides a forum for multinational negotiations to resolve trade problems, and has a formal mechanism for dispute settlement. It is the primary institution working, through rule-based bargaining, at freeing trade. In this book, Kyle Bagwell and Robert Staiger provide an economic analysis and justification for the purpose and design of the GATT/WTO. They summarize their own research, discuss the major features of the GATT agreement, and survey the literature on trade agreements. Their focus on the terms-of-trade externality is particularly original and ties the book together. Topics include the theory of trade agreements, the origin and design of the GATT and the WTO, the principles of reciprocity, the most favored nation principle, terms-of-trade theory, enforcement, preferential trade agreements, labor and environmental standards, competition policy, and agricultural export subsidies.




Diplomatic Negotiation


Book Description

"Diplomatic Negotiation is difficult to grasp, both in practice and in theory. Yet it is important to get to grips with this process, as negotiations between states and in international organizations are the lifeblood of the international body politic. The Charter of the United Nations, for obvious reasons, ranks negotiation as the foremost instrument in the peaceful settlement of inter-state conflicts. Scholars of international relations, however, are still searching for methodologies and theories to explain the outcomes of negotiations by the processes that produce them. This monograph approaches the process of diplomatic negotiation from different angles, while applying a multi-faceted qualitative analysis of case studies from the past and present. It is hoped that a better understanding of negotiation as one of the main tools of diplomacy will help to enhance the effectiveness of this process as an alternative to warfare. Still, negotiation is basically a struggle in the promotion and defence of state interests. It is war by peaceful means. The central proposition of this book is that negotiations between states can only be a viable replacement of the use of violence if they are conducted within a framework of international regimes that set the rules and procedures for negotiation behaviour and mitigate lack of trust. International regimes may take the shape of international organizations, which can force countries to live up to their agreements. Diplomats and political leaders have come to recognize this, as the evolution of diplomacy in the last 400 years testifies. Diplomatic negotiation may be taken as a ceaseless series of attempts to bring more order to the international system. The current demise of the negotiation processes in the Middle East thus demonstrates the failure of the international community to build overarching negotiation structures."--Page 4 of cover.




The History and Future of the World Trade Organization


Book Description

The History and Future of the World Trade Organization is a comprehensive account of the economic, political and legal issues surrounding the creation of the WTO and its evolution. Fully illustrated with colour and black-and-white photos dating back to the early days of trade negotiations, the publication reviews the WTO's achievements as well as the challenges faced by the organisation, and identifies the key questions that WTO members need to address in the future. The book describes the intellectual roots of the trading system, membership of the WTO and the growth of the Geneva trade community, trade negotiations and the development of coalitions among the membership, and the WTO's relations with other international organisations and civil society. Also covered are the organisation's robust dispute settlement rules, the launch and evolution of the Doha Round, the rise of regional trade agreements, and the leadership and management of the WTO.




A Game-Theoretic Perspective on Coalition Formation


Book Description

Drawing upon and extending his inaugural Lipsey Lectures, Debraj Ray looks at coalition formation from the perspective of game theory. Ray brings together developments in both cooperative and noncooperative game theory to study the analytics of coalition formation and binding agreements.




The Collapse of Global Trade, Murky Protectionism, and the Crisis


Book Description

The global financial crisis of 2008/9 is the Great Depression of the 21st century. For many though, the similarities stop at the Wall Street Crash as the current generation of policymakers have acted quickly to avoid the mistakes of the past. Yet the global crisis has made room for mistakes all of its own. While governments have apparently kept to their word on refraining from protectionist measures in the style of 1930s tariffs, there has been a disturbing rise in "murky protectionism." Seemingly benign, these crisis-linked policies are twisted to favour domestic firms, workers and investors. This book, first published as an eBook on VoxEU.org in March 2009, brings together leading trade policy practitioners and experts - including Australian Trade Minister Simon Crean and former Mexican President Ernesto Zedillo. Initially its aim was to advise policymakers heading in to the G20 meeting in London, but since the threat of murky protectionism persists, so too do their warnings.