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Coasian Bargaining with An Arriving Outside Option
Hwang, Ilwoo; Li, Fei - Department of Economics, University of Pennsylvania - 2013
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. …
Persistent link: https://www.econbiz.de/10010822897
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"Pricing and Investments in Matching Markets",Second Version
Mailath, George J.; Postlewaite, Andrew; Samuelson, Larry - Department of Economics, University of Pennsylvania - 2010
Different markets are cleared by different types of prices---seller-specific prices that are uniform across buyers in some markets, and personalized prices tailored to the buyer in others. We examine a setting in which buyers and sellers make investments before matching in a competitive market....
Persistent link: https://www.econbiz.de/10008751337
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A Theory of Bargaining Deadlock
Hwang, Ilwoo - Department of Economics, University of Pennsylvania - 2013
I study a dynamic one-sided-offer bargaining model between a seller and a buyer under incomplete information. The … seller knows the quality of his product while the buyer does not. During bargaining, the seller randomly receives an outside … the bargaining process. As a result, the equilibrium behavior produces an outcome path that resembles the outcome of a …
Persistent link: https://www.econbiz.de/10010691391
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Premuneration Values and Investments in Matching Markets
Mailath, George J.; Postlewaite, Andrew; Samuelson, Larry - Department of Economics, University of Pennsylvania - 2013
We analyze a model in which agents make investments and then match into pairs to create a surplus. The agents can make transfers to reallocate their pretransfer ownership claims on the surplus. Mailath, Postlewaite, and Samuelson (2013) showed that when investments are unobservable, equilibrium...
Persistent link: https://www.econbiz.de/10010700277
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Premuneration Values and Investments in Matching Markets
Mailath, George; Postlewaite, Andrew; Samuelson, Larry - Department of Economics, University of Pennsylvania - 2012
surplus in the absence of interagent transfers. Most of the work in the large bargaining-and matching literature ignores this …
Persistent link: https://www.econbiz.de/10010822874
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Bargaining While Learning About New Arrivals, Second Version
Huang, Chong; Li, Fei - Department of Economics, University of Pennsylvania - 2011
We study dynamic bargaining with uncertainty over the buyer's valuation and the seller's outside option. A long …
Persistent link: https://www.econbiz.de/10010822933
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Pricing in Matching Markets
Mailath, George J.; Postlewaite, Andrew; Samuelson, Larry - Department of Economics, University of Pennsylvania - 2010
Different markets are cleared by different types of prices---a universal price for all buyers and sellers in some markets, seller-specific prices that are uniform across buyers in others, and personalized prices tailored to both the buyer and the seller in yet others. We introduce the notion of...
Persistent link: https://www.econbiz.de/10008456313
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Sorting and Decentralized Price Competition
Eeckhout, Jan; Kircher, Philipp - Department of Economics, University of Pennsylvania - 2008
We investigate under which conditions price competition in a market with matching frictions leads to sorting of buyers and sellers. Positive assortative matching obtains only if there is a high enough degree of complementarity between buyer and seller types. The relevant condition is...
Persistent link: https://www.econbiz.de/10005102083
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Coordination and Social Learning
Huang, Chong - Department of Economics, University of Pennsylvania - 2011
This paper studies the interaction between coordination and social learning in a dynamic regime change game. Social learning provides public information to which players overreact due to the coordination motive. So coordination affects the aggregation of private signals through players' optimal...
Persistent link: https://www.econbiz.de/10009188957
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A Note on Unawareness and Zero Probability
Li, Jing - Department of Economics, University of Pennsylvania - 2008
I study how choice behavior given unawareness of an event differs from choice behavior given subjective belief of zero probability on that event. Depending on different types of unawareness the decision-maker suffers, behavior under unawareness is either incomparable with that under zero...
Persistent link: https://www.econbiz.de/10005126692