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Title:Bargaining strategy and sex as determinants of bargaining outcomes in open markets
Author:Balogun, Shyngle K.
Periodical:The Nigerian Journal of Economic and Social Studies
Geographic term:Nigeria
trade negotiations
Abstract:The present study is an experimental investigation of the results of bargaining in open markets. There were two independent variables in the study, sex (male/female) and bargaining strategy (tough/soft). The bargaining outcomes were price concessions granted by sellers, frequency of concessions granted, frequency of trials undertaken by buyers before concluding a bargain, time taken to conclude a bargain, and total money saved by buyers. The researcher trained 32 subjects, all sophomore psychology students of the University of Ibadan, who subsequently visited different market stalls in the Bodija and Sango markets in Ibadan (Oyo State, Nigeria). It was found that tough bargainers elicited more price concessions than soft bargainers. There was no main effect of sex. A sex and strategy interaction was observed, with tough male bargainers making more attempts to elicit price concessions than tough female bargainers. Strategy was found to have a significant effect on total money saved by buyers during the bargaining transaction. Bibliogr., sum.