The North American Fur Trade: Bargaining to a Joint Profit Maximum under Incomplete Information, 1804–1821

@article{Carlos1986TheNA,
  title={The North American Fur Trade: Bargaining to a Joint Profit Maximum under Incomplete Information, 1804–1821},
  author={A. Carlos and E. Hoffman},
  journal={The Journal of Economic History},
  year={1986},
  volume={46},
  pages={967-986}
}
We examine bargaining between the Northwest Company and the Hudson's Bay Company using recent models of bargaining under incomplete information. Two previously undisturbed bodies of correspondence are analyzed: letters between the two companies and letters between the Hudson's Bay Company and its London committee. Through merger the companies achieved a joint maximum, but the lengthy and costly bargaining process dissipated much of the potential gain through depletion of animal stocks… Expand
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