Showing 1 - 10 of 239
(theoretically) that adding search to a simple bargaining mechanism eliminates some unsatisfactory features of bargaining theory. Our …, the buyer can choose to leave the negotiation table to search for other alternatives. Under one version, if the buyer … chooses to search for a better price, the opportunity to purchase the good at the stated price is gone. Under the second …
Persistent link: https://www.econbiz.de/10005556687
We examine a simple bargaining setting, where heterogeneous buyers and sellers are repeatedly matched with each other …
Persistent link: https://www.econbiz.de/10005062338
We analyze different ways of pairing agents in a bipartite matching problem, with regard to its scaling properties and to the distribution of individual ``satisfactions''. Then we explore the role of partial information and bounded rationality in a generalized {\it Marriage Problem}, comparing...
Persistent link: https://www.econbiz.de/10005062392
This paper develops a model of pricing and advertising in a matching environment with capacity constrained sellers. Sellers' expenditure on directly informative advertising attracts consumers only probabilistically. Consumers who happen to observe advertisements randomize over the advertised...
Persistent link: https://www.econbiz.de/10005076903
This paper studies an adaptive artificial agent model using a genetic algorithm to analyze how a population of decision-makers learns to coordinate on the selection of an equilibrium or a social convention in a two-sided matching game. In the contexts of centralized and decentralized entry-level...
Persistent link: https://www.econbiz.de/10005550908
We study a strategic model of dynamic trading where agents are asymmetrically informed over common value sources of uncertainty. There is a continuum of uninformed buyers and a finite number of sellers, some of them informed. When there is only one seller, full information revelation never...
Persistent link: https://www.econbiz.de/10005118623
We study search behavior in a generalized "secretary problem" environment in which consumers search sequentially for … make no distributional assumptions about the quality of the alternatives. Rather, at each stage of the search the consumers …. Our study departs from previous experimental investigations of the secretary problem by including search costs and …
Persistent link: https://www.econbiz.de/10005408222
of costly search to discover prices. We ask whether such equilibria can be learnt when sellers adjust prices adaptively …
Persistent link: https://www.econbiz.de/10005118556
with different match qualities. No search effort by the agent is needed to receive offers. Individual productivity declines …
Persistent link: https://www.econbiz.de/10005408328
This paper studies optimal experimentation by a monopolist who faces an unknown demand curve subject to random changes, and who maximises profits over an infinite horizon in continuous time. We show that there are two qualitatively very different regimes, determined by the discount rate and the...
Persistent link: https://www.econbiz.de/10005118645