Ambiguity aversion in buyer-seller relationships: A contingent-claims and social network explanation

Negotiations between buyers and sellers (or suppliers) of goods and services have become increasingly important due to the growing trend towards international purchasing, outsourcing and global supply networks together with the high uncertainty associated with them. This paper examines the effect of ambiguity aversion on price negotiations using multiple-priors-based real options with non-extreme outcomes. We study price negotiation between a buyer and seller in a dual contingent-claims setting (call option holding buyer vs. put option holding seller) to derive optimal agreement conditions under ambiguity with and without social network effects. We find that while higher ambiguity aversion raises the threshold for commitment for the seller, it has equivocal effects on the buyer's negotiation prospects in the absence of network control. Conversely when network position and relative bargaining power are accounted for, we find the buyer's implicit price (or negotiation threshold) decreases (or increases) unequivocally with increasing aversion to ambiguity. Extending extant real options research on price negotiation to the case of ambiguity, this set of results provides new insights into the role of ambiguity aversion and network structures in buyer-seller relationships, including how they influence the range of negotiation agreement between buyers and sellers. The results also help assist managers in formulating robust buying/selling strategies for bargaining under uncertainty. By knowing their network positions and gathering background information or inferring the other party's ambiguity tolerance beforehand, buyers and sellers can anticipate where the negotiation is heading in terms of price negotiation range and mutual agreement possibilities

Construction management abstracts : cumulative abstracts and indexes of journals in construction management, 1983-2000

The purpose of this document is to provide a single source of reference for every paper published in the journals directly related to research in Construction Management. It is indexed by author and keyword and contains the titles, authors, abstracts and keywords of every article from the following journals: • Building Research and Information (BRI) • Construction Management and Economics (CME) • Engineering, Construction and Architectural Management (ECAM) • Journal of Construction Procurement (JCP) • Journal of Construction Research (JCR) • Journal of Financial Management in Property and Construction (JFM) • RICS Research Papers (RICS) The index entries give short forms of the bibliographical citations, rather than page numbers, to enable annual updates to the abstracts. Each annual update will carry cumulative indexes, so that only one index needs to be consulted

Behavioral Strategy: Strategic Consensus, Power and Networks

Organizations are embedded in a network of relationships and make sense of their business environment through the cognitive frames of their employees and executives who constantly experience battles for power. This dissertation integrates strategic management research with organizational behavior to illuminate managerial cognition, intra-organizational power and interfirm networks. The collection of the studies presented in the present dissertation provides further insights into measurement of cognition, consensus formation process, optimal power differences, and social network theory with assumptions grounded on social cognition, behavioral decision theory, psychology and organizational behavior. These studies offered a new method to measure, visualize and aggregate individual cognition to group and between group level with a strong emphasis on multiple dimensions of cognition, shed light on micro-processes on consensus formation in relation to within-group power differences and psychological safety, a novel model of strategic decision making, and a new behavioral construct that refined existing theories from a behavioral perspective. Each study on its own laid down responses to core research questions of behavioral strategy. Consequently, this dissertation extends strategic management along behavioral lines and equips scholars and practitioners with novel methods and theoretical insights with respect to cognition, power and networks

Accountants\u27 index. Thirty-second supplement, January-December 1983, volume 1: A-L

https://egrove.olemiss.edu/aicpa_accind/1041/thumbnail.jp