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About: Inequality of bargaining power     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:PsychologicalFeature100023100, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)

Type: Thingyago:WikicatLegalDoctrinesAndPrinciplesyago:Abstraction100002137yago:Belief105941423yago:Cognition100023271yago:Content105809192yago:Doctrine105943300yago:PsychologicalFeature100023100 New Facet based on Instances of this Class

Inequality of bargaining power in law, economics and social sciences refers to a situation where one party to a bargain, contract or agreement, has more and better alternatives than the other party. This results in one party having greater power than the other to choose not to take the deal and makes it more likely that this party will gain more favourable terms and grant them more negotiating power (as they are in a better position to reject the deal). Inequality of bargaining power is generally thought to undermine the freedom of contract, resulting in a disproportionate level of freedom between parties, and that it represents a place at which markets fail.