Bargaining in Patent Licensing Negotiations under Stochastic Environments: An Experimental Study

Table 2

Mann-Whitney tests of differences among treatments.

Variables	Within-subject		Between-subject
	Low-risk market; One- versus two-licensee	High-risk market; One- versus two-licensee	One-licensee; Low- versus high-risk	Two-licensee; Low- versus high-risk
Offer	3.250 [0.001]^a	3.477 [0.000]^a	−1.021 [0.307]^b	−0.832 [0.406]^b
WTA	2.117 [0.017]^a	3.477 [0.000]^a	−3.780 [0.000]^a	−2.721 [0.003]^a
Accept offer; /1st accepted; /2nd accepted	2.721 [0.003]^a; /2.948 [0.003]^a; /1.285 [0.199]^b	/3.402 [0.000]^a; /3.402 [0.000]^a; /2.419 [0.007]^a	−0.378 [0.705]^b	−0.378 [0.705]^b; /−1.285 [0.199]^b; /0.680 [0.496]^b
Acceptance rate; /1st accepted; /2nd accepted	3.704 [0.000]^a; /−1.550 [0.121]^b; /2.797 [0.003]^a	3.327 [0.000]^a; /−1.739 [0.082]^b; /2.721 [0.003]^a	0.454 [0.650]^b	1.436 [0.151]^b; /0.076 [0.939]^b; /1.096 [0.273]^b
Payoffs
Licensee	1.587 [0.112]^b	1.172 [0.241]^b	0.151 [0.880]^b	1.360 [0.174]^b
Licensor	2.267 [0.012]^a	2.230 [0.013]^a	0.529 [0.597]^b	1.209 [0.226]^b

Note: Numbers in brackets are P values of Manny-Whitnet U test.
^adenotes one-tailed test; ^bdenotes two-tailed test.