The exchange of information is a central aspect of the bargaining
process. Typically, not all bargaining parties have exactly the
same information and informational asymmetries exist between
bargaining parties. Bargaining parties have information that other
parties do not have; so-called private information. Research has
demonstrated that private information has a substantial impact
on the bargaining process and its outcomes. In particular, it has
been demonstrated that bargainers may use private information
to their own advantage