Showing 1 - 10 of 116
This paper shows that all perfect Bayesian equilibria of a dynamic matching game with two-sided incomplete information … private information. Agents engage in costly search and meet randomly. The terms of trade are determined through bilateral ….e., as discounting and the fixed cost of search become small, all equilibria of the market game converge to perfectly …
Persistent link: https://www.econbiz.de/10010266300
Weitzman's search model requires that, conditional on stopping, the agent only takes boxes which have already been … common in the search and information acquisition literature, boxes are inspected following the same order as inWeitzman …
Persistent link: https://www.econbiz.de/10010352859
We study the steady state of a market with incoming cohorts of buyers and sellers who are matched pairwise and bargain under private information. We first consider generalized random-proposer take-it-or-leave-it offer games (GRP TIOLI games). This class of games includes a simple random-proposer...
Persistent link: https://www.econbiz.de/10010266316
In a two-sided search market agents are paired to bargain over a unit surplus. The matching market serves as an …
Persistent link: https://www.econbiz.de/10010282941
paper, we introduce and formalize reciprocal preferences, apply them to matching markets, and analyze the implications for … acceptance mechanism can achieve stability. These results provide insights into non-standard preferences in matching markets, and …
Persistent link: https://www.econbiz.de/10014467722
Matching markets can be unstable when individuals prefer to be matched to a partner who also wants to be matched with … preferences exist, significantly decrease stability in matching markets, and are driven both by belief-based and preference …
Persistent link: https://www.econbiz.de/10014467870
I consider a flexible framework of strategic interactions under incomplete information in which, prior to committing their actions (consumption, production, or investment decisions), agents choose the attention to allocate to an arbitrarily large number of information sources about the primitive...
Persistent link: https://www.econbiz.de/10011335452
Persistent link: https://www.econbiz.de/10011335455
The standard framework for analyzing games with incomplete information models players as if they have an infinite depth of reasoning, which is not always consistent with experimental evidence. This paper generalizes the type spaces of Harsanyi (1967-1968) so that players can have a finite depth...
Persistent link: https://www.econbiz.de/10010352842
We study information acquisition in a flexible framework with strategic complementarity or substitutability in actions and a rich set of externalities that are responsible for possible wedges between the equilibrium and the efficient acquisition of information. First, we relate the...
Persistent link: https://www.econbiz.de/10010352847