Abstract
Previous laboratory experimental studies of bargaining have shown that a bargainer's perception of an opponent's reservation price influences the bargainer's own counteroffer, concession magnitude, and ultimatum offer. However, most of these studies have been conducted in countries where bargaining is not an everyday commercial phenomenon, and so respondents may not be expected to have much prior experience with bargaining. The present study examines these relationships within the context of a field experiment conducted in a country where bargaining is a common mode of establishing prices for a wide range of products in the ordinary course of commercial transactions. A number of hypotheses derived from the previous studies are supported by findings of the present study, thus confirming the external validityofthepreviousfindings.
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