The ability to make counteroffers transforms bargaining from a game in which ___________ trumps everything to a game in which ____________ is the winning strategy.
A)patience; the first-mover advantage
B)a commitment strategy; self-interested behavior
C)the first-mover advantage; patience
D)the first-mover advantage; cooperation

Question

Quizplus · Accepted Answer

In bargaining, the ability to make counteroffers shifts the advantage from the first-mover to those who can be patient, as patience allows one to wait for better offers.

The Ability to Make Counteroffers Transforms Bargaining from a Game