We propose a simple bargaining procedure, the equilibrium of which converges to the Walrasian allocation as the agents … not price-takers. Moreover, where in other bargaining protocols the final outcome depends on bargaining power or relative … important implications for policy applications compared to standard bargaining rules. …

We consider Coasian bargaining problems where the buyer has an outside option arriving at a stochastic time. We study … available, and the standard Coasian bargaining literature, where the buyer has no outside option. …

This paper introduces a model of endogenous network formation and systemic risk. In it, strategic agents form networks … generate much higher interconnectedness, which in turn leads to higher systemic risk. Third, the structure of the network … underlines the importance of specifying the shock structure before investigating a given network as a particular network and …

This paper introduces a model of endogenous network formation and systemic risk. In it, agents form networks that … generate higher interconnectedness, which in turn leads to higher systemic risk. Third, the structure of the network formed … shocks are perfectly correlated, the network formed is a complete graph, i.e., a link between every pair of agents. This …