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; first-mover advantage
B) commitment strategy; self-interested behavior
C) first-mover advantage; patience
D) 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 are patient, as patience allows for better negotiation outcomes over time.

The Ability to Make Counteroffers Transforms Bargaining from a Game