All in good time

@article{Heifetz2007AllIG,
  title={All in good time},
  author={Aviad Heifetz and Clara Ponsati},
  journal={Int. J. Game Theory},
  year={2007},
  volume={35},
  pages={521-538}
}
Why is issue-by-issue bargaining a common phenomenon, even though it disallows the beneficial trade-offs across issues that are possible when negotiating a global solution? We show that under asymmetric information, issue-by-issue bargaining has two attractive features. First, it avoids bundling a good deal on one issue with a bad deal on another issue, when the lack of gains to agreement on the latter is not a priori common knowledge. Second, it avoids the imposition of the asymmetric… CONTINUE READING