华南市场经济研究中心

报告题目：Deal or No Deal? The Effect of Alcohol Drinking on Bargaining
主讲人：张吉鹏 （西南财经大学副教授、匹兹堡大学博士）
时间：2015年6月19日(周五) 上午 10:00-11:30
地点：学院301会议室

【主讲人简介】张吉鹏毕业于美国匹兹堡大学经济系，现为西南财经大学经济与管理学院副教授。他的主要研究方向为公共经济学、产业组织、中国经济、行为经济学和实验经济学。他在 International Economic Review, International Journal of Industrial, Organization, Journal of Real Estate Literature等英文期刊上发表论文多篇。他硕士期间与复旦大学经济学院的张军教授等合作的论文《中国省际物质资本存量估算:1952—2000》是引用次数最多的中文经济学论文之一。

【报告摘要】Alcohol drinking during business negotiation is a very common practice, particularly in some East Asian countries. Does alcohol consumption affect negotiator's strategy and consequently the outcome of the negotiation? If so, what is the mechanism through which alcohol impacts negotiator's behavior? We investigate the effect of a moderate amount of alcohol on negotiation using controlled experiments. Subjects are randomly matched into pairs to play a bargaining game with adverse selection. In the game, each subject is given a private endowment. The total endowment is scaled up and shared equally between the pair provided that they agree to collaborate. It is found that a moderate amount of alcohol consumption increases subjects' willingness to collaborate, thus improving everyone's expected payoff. We find that alcohol increases neither subjects' preference for risk nor altruism. A possible explanation for the increase in the likelihood of trade, and hence the welfare of trading, is that subjects under the influence of alcohol are more "cursed" in the sense of Eyster and Rabin (2005). This explanation was supported by the estimated cursedness parameters from a structural model of quantile response equilibrium.