Game Theory
In the context of strategic bargaining and the Rubinstein model, delay refers to the intentional postponement of making an agreement or decision during the negotiation process. This can be a strategic tool used by one or both parties to extract more favorable terms or to signal their commitment to a particular position. The dynamics of delay play a crucial role in shaping the outcomes of negotiations, as they influence the timing and concessions made by each party.
congrats on reading the definition of delay. now let's actually learn it.