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This paper evaluates performance of human subjects and instances of a bidding model that interact in continuous-time double auction experiments. Asks submitted by instances of the seller model ("automated sellers") maximize the seller's expected surplus relative to a heuristic belief function,...
Persistent link: https://www.econbiz.de/10005063604
offers bargaining and repeated games. Despite the forces of bargaining, the negotiation game in general admits a large number … equilibria survive. Thus, complexity and bargaining in tandem may offer an explanation for co-operation in repeated games …
Persistent link: https://www.econbiz.de/10005342231
Admati and Perry (1987) derive the equilibrium in a bargaining game between a seller and buyer when the buyer … equilibrium for this bargaining game with asymmetric information and outside options. It turns out that giving the seller an … less valuable on spot markets, even if doing so comes with a cost. Introducing outside options also changes the impact of …
Persistent link: https://www.econbiz.de/10005063605
We consider a model of bargaining by concessions where agents can terminate negotiations by accepting the settlement of …
Persistent link: https://www.econbiz.de/10005170253
-person alternating offers bargaining and repeated games. Despite the forces of bargaining, the negotiation game in general admits a large …. Thus, complexity and bargaining in tandem may offer an explanation for co-operation and efficiency in repeated games …
Persistent link: https://www.econbiz.de/10005699675
bargaining in the presence of externalities. Similarly to Segal's work, we prove our results for highly general settings, and …
Persistent link: https://www.econbiz.de/10005702579
We study perfect information bilateral bargaining game with an infinite alternating-offers procedure, in which we add … utility than what she was offered in earlier stages of the bargaining, namely, a ``worse off'' outcome. In a strong version of …
Persistent link: https://www.econbiz.de/10005702634
Rubinstein Safra and Thomson (1992) introduced the Ordinal Nash Bargaining Solution. They proved that Pareto Optimality … a finite set of alternatives. We then introduce the Ordinal Egalitarian Bargaining Solution. We show both for a space of …
Persistent link: https://www.econbiz.de/10005702666
's temporary wage to upset the union's incentive to strike, decreasing the union's bargaining power, and shrinking the set of …
Persistent link: https://www.econbiz.de/10005702693
offers bargaining and repeated games. Despite the forces of bargaining, the negotiation game in general admits a large number … equilibria survive. Thus, complexity and bargaining in tandem may offer an explanation for co-operation in repeated games …
Persistent link: https://www.econbiz.de/10005702743