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The Efficiency of Real-World Bargaining: Evidence from Wholesale Used-Auto Auctions

Larsen, Bradley - National Bureau of Economic Research (NBER) - 2014

This study quantifies the efficiency of a real-world bargaining game with two-sided incomplete information. Myerson and …, but little is known about how well real-world bargaining performs relative to the frontier. The setting is wholesale used …-auto auctions, an $80 billion industry where buyers and sellers participate in alternating-offer bargaining when the auction price …

Persistent link: https://www.econbiz.de/10010951057

The Economics of Internet Markets

Levin, Jonathan - National Bureau of Economic Research (NBER) - 2011

The internet has facilitated the creation of new markets characterized by large scale, increased customization, rapid innovation and the collection and use of detailed consumer and market data. I describe these changes and some of the economic theory that has been useful for thinking about...

Persistent link: https://www.econbiz.de/10008855223

Naturally Occurring Markets and Exogenous Laboratory Experiments: A Case Study of the Winner's Curse

Harrison, Glenn W.; list, john - National Bureau of Economic Research (NBER) - 2007

There has been a dramatic increase in the use of experimental methods in the past two decades. An oft-cited reason for this rise in popularity is that experimental methods provide the necessary control to estimate treatment effects in isolation of other confounding factors. We examine the...

Persistent link: https://www.econbiz.de/10005085377

Auctions with Resale When Private Values Are Uncertain: Evidence from the Lab and Field

Lange, Andreas; list, john; Price, Michael K. - National Bureau of Economic Research (NBER) - 2010

Auction theory represents one of the richest areas of research in economics over the past three decades. Yet, whether, and to what extent, the introduction of secondary resale markets influences bidding behavior in sealed bid first-price auctions remains under researched. This study begins by...

Persistent link: https://www.econbiz.de/10008646462

An Empirical Model of the Medical Match

Agarwal, Nikhil - National Bureau of Economic Research (NBER) - 2014

This paper develops a framework for estimating preferences in two-sided matching markets with non-transferable utility using only data on observed matches. Unlike single-agent choices, matches depend on the preferences of other agents in the market. I use pairwise stability together with a...

Persistent link: https://www.econbiz.de/10011103504

College Admissions as Non-Price Competition: The Case of South Korea

Avery, Christopher N.; Roth, Alvin; Lee, Soohyung - National Bureau of Economic Research (NBER) - 2014

This paper examines non-price competition among colleges to attract highly qualified students, exploiting the South Korean setting where the national government sets rules governing applications. We identify some basic facts about the behavior of colleges before and after a 1994 policy change...

Persistent link: https://www.econbiz.de/10011103508

Endogenous Insurance and Informal Relationships

Wang, Xiao Yu - National Bureau of Economic Research (NBER) - 2014

Heterogeneously risk-averse individuals who lack access to formal insurance build and use relationships with each other to manage risk. I show that the composition of equilibrium relationships under pairwise matching and when group size is endogenous is determined by a mean-variance trade-off...

Persistent link: https://www.econbiz.de/10011186512

Unobserved Heterogeneity in Matching Games

Fox, Jeremy; Yang, Chenyu - National Bureau of Economic Research (NBER) - 2012

Agents in two-sided matching games vary in characteristics that are unobservable in typical data on matching markets. We investigate the identification of the distribution of these unobserved characteristics using data on who matches with whom. The distribution of match-specific unobservables...

Persistent link: https://www.econbiz.de/10010796582

The Demise of Walk Zones in Boston: Priorities vs. Precedence in School Choice

Dur, Umut M.; Kominers, Scott Duke; Pathak, Parag A.; … - National Bureau of Economic Research (NBER) - 2013

School choice plans in many cities grant students higher priority for some (but not all) seats at their neighborhood schools. This paper demonstrates how the precedence order, i.e. the order in which different types of seats are filled by applicants, has quantitative effects on distributional...

Persistent link: https://www.econbiz.de/10010969267

Bargaining in Bilateral Oligopoly: An Alternating Offers Representation of the "Nash-in-Nash" Solution

Collard-Wexler, Allan; Gowrisankaran, Gautam; Lee, Robin S. - National Bureau of Economic Research (NBER) - 2014

bargaining model for predicting and estimating the division of surplus in applied analysis of bilateral oligopoly. This paper …

Persistent link: https://www.econbiz.de/10010969276