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We study a first price auction preceded by a negotiation stage, during which bidders may form a bidding ring. We prove that in the absence of external effects the all-inclusive ring forms in equilibrium, allowing ring members to gain the auctioned object for a minimal price. However, identity...
Persistent link: https://www.econbiz.de/10011072525
fundamental attribution error. It is applied to a bargaining problem, thereby revealing a deceptive tactic that is hard to explain …
Persistent link: https://www.econbiz.de/10010706736
The motivation of this paper comes from repeated games with incomplete information and imperfect monitoring. It concerns the existence, for any payoff function, of a particular equilibrium (called completely revealing) allowing each player to learn the state of nature. We consider thus an...
Persistent link: https://www.econbiz.de/10010708402
We study information transmission between informed experts and an uninformed decision-maker who only takes binary decisions. In the single expert case, we show that information transmission can only be relatively poor. Hence, even sophiscated communication games do not yield equilibria which (ex...
Persistent link: https://www.econbiz.de/10011166548
We are given a list of tasks Z and a population divided into several groups X j of equal size. Performing one task z requires constituting a team with exactly one member x j from every group. There is a cost (or reward) for participation: if type x j chooses task z, he receives p j (z);...
Persistent link: https://www.econbiz.de/10010706644
Contrary to most countries, the recruitment of assistant professors in France is centralized: recruitment committees submit a ranking of candidates to the Ministry of Education, the candidates submit their own ranking over the faculties that rank them and the Ministry compute the final match...
Persistent link: https://www.econbiz.de/10010707715
We consider the asymptotic value of two person zero sum repeated games with general evaluations of the stream of stage payoffs. We show existence for incomplete information games, splitting games and absorbing games. The technique of proof consists in embedding the discrete repeated game into a...
Persistent link: https://www.econbiz.de/10010708272
Contrary to most countries, the recruitment of assistant professors in France is centralized: recruitment committees submit a ranking of candidates to the Ministry of Education, the candidates submit their own ranking over the faculties that rank them and the Ministry compute the final match...
Persistent link: https://www.econbiz.de/10010708517
reinforces their threat point when bargaining the interest rate of the loan. …
Persistent link: https://www.econbiz.de/10011122209
In this paper, we study a framework where allocations of goods result from distributed negotiation conducted by autonomous agents implementing very simple deals. Assuming that these agents are strictly self-interested, we study the impact of different negotiation protocols over the outcomes of...
Persistent link: https://www.econbiz.de/10011072905