Gottardi, Piero and Mezzetti, Claudio (2024) Shuttle diplomacy. Journal of Economic Theory, 216. p. 105794. DOI https://doi.org/10.1016/j.jet.2023.105794
Gottardi, Piero and Mezzetti, Claudio (2024) Shuttle diplomacy. Journal of Economic Theory, 216. p. 105794. DOI https://doi.org/10.1016/j.jet.2023.105794
Gottardi, Piero and Mezzetti, Claudio (2024) Shuttle diplomacy. Journal of Economic Theory, 216. p. 105794. DOI https://doi.org/10.1016/j.jet.2023.105794
Abstract
In practice mediation operates through shuttle diplomacy: the mediator goes back and forth between parties, meeting them in private. We model shuttle diplomacy as a dynamic procedure. The mediator helps each party to gradually discover (privately) her value from settlement and re-assess her bargaining position, while also proposing the terms of the deal. We show that shuttle diplomacy always allows parties to achieve an ex-post efficient final settlement. In contrast, this is not possible with a static mediation procedure. In addition, if parties have symmetric prior value distributions, shuttle diplomacy guarantees a fair split of the social value from settlement.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | Diplomacy; Information design; Mechanism design; Mediation |
| Divisions: | Faculty of Social Sciences Faculty of Social Sciences > Economics, Department of |
| SWORD Depositor: | Unnamed user with email elements@essex.ac.uk |
| Depositing User: | Unnamed user with email elements@essex.ac.uk |
| Date Deposited: | 14 Oct 2024 18:03 |
| Last Modified: | 30 Oct 2024 16:11 |
| URI: | http://repository.essex.ac.uk/id/eprint/38879 |
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