Preferences, uncertainty, and biases in land division: A bargaining experiment in the field
Divisions of rural land in developing countries reduce the possibilities of farmers to profit from agricultural returns to scale. We design and conduct a framed bargaining experiment to study whether land overvaluation (due to affective reasons) and uncertainty in land values are drivers for land division. In our bargaining game, two players with different agricultural […]
Environmental valuation using bargaining games: an application to water
We characterize a general bargaining game useful for environmental valuation purposes. In this game, a jointly endowed asset is divisible into smaller units of two types:those with and without an associated costly attribute. Bargaining parties can use monetary transfers to their counterpart in exchange for accruing more units of the jointlyendowed asset. We show that […]