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Li, Ming - Volkswirtschaftliche Fakultät, … - 2002

I analyze a bilateral bargaining model with one-sided uncertainty about time preferences. The uninformed player has the … option of halting the bargaining process to obtain additional information, when it is his turn to offer. For a wide class of …

Persistent link: https://www.econbiz.de/10005836458

A Simple Bargaining Mechanism That Elicits Truthful Reservation Prices

Brams, Steven J.; Kaplan, Todd R; Kilgour, D. Marc - Volkswirtschaftliche Fakultät, … - 2011

We describe a simple 2-stage mechanism that induces two bargainers to be truthful in reporting their reservation prices in a 1st stage. If these prices criss-cross, the referee reports that they overlap, and the bargainers proceed to make offers in a 2nd stage. The average of the 2nd-stage...

Persistent link: https://www.econbiz.de/10008839490

A note on the inefficiency of bargaining over the price of a share

Athanassoglou, Stergios; Brams, Steven J.; Sethuraman, Jay - Volkswirtschaftliche Fakultät, … - 2010

We study the problem of dissolving a partnership when agents have unequal endowments. Agents bid on the price of the entire partnership. The highest bidder is awarded the partnership and buys out her partners' shares at a per-unit price that is a function of the two highest bids. We show that...

Persistent link: https://www.econbiz.de/10008534211

Do ambiguity effects survive in experimental asset markets?

Füllbrunn, Sascha; Rau, Holger; Weitzel, Utz - Volkswirtschaftliche Fakultät, … - 2013

Despite ample evidence of ambiguity preferences in individual decision making, experimental studies of ambiguity effects in financial markets are scarce and inconclusive. Although a number of theoretical studies explain empirical puzzles in finance with ambiguity preferences, it is not a given...

Persistent link: https://www.econbiz.de/10011111031

The Hayek hypothesis and long run competitive equilibrium: an experimental investigation

Shachat, Jason; Zhang, Zhenxuan - Volkswirtschaftliche Fakultät, … - 2012

We report on an experiment investigating whether the Hayak Hypothesis (Smith, 1982) extends to the long run setting. We consider two environments; one with a common production technology having a U-shaped long run average cost curve and a single competitive equilibrium, and another with a common...

Persistent link: https://www.econbiz.de/10011114094

Testing double auction as a component within a generic market model architecture

Derveeuw, Julien; Beaufils, Bruno; Mathieu, Philippe; … - Volkswirtschaftliche Fakultät, … - 2007

Since the first multi-agents based market simulations in the nineties, many different artificial stock market models have been developped. There are mainly used to reproduce and understand real markets statistical properties such as fat tails, volatility clustering and positive auto-correlation...

Persistent link: https://www.econbiz.de/10005626887

Gold, guilds, and government: the impact of monetary and labour policies on the Flemish cloth industry, 1390-1435

Munro, John H. - Volkswirtschaftliche Fakultät, … - 2002

. While compulsory arbitration from the ducal Council of Flanders did impose settlements, and new wages that endured unchanged …

Persistent link: https://www.econbiz.de/10005790245

A Note on Jackson's Theorems in Bayesian Implementation

Saglam, Ismail - Volkswirtschaftliche Fakultät, … - 1997

This paper shows that in an incomplete information situation if the set of states of the society which occur with positive probability satisfies 'connection' condition, then closure condition will be satisfied by all social choice sets. It then follows from Jackson's (1991) two fundamental...

Persistent link: https://www.econbiz.de/10005260221

Divorce costs and marital dissolution in a one-to-one matching framework with nontransferable utilities

Saglam, Ismail - Volkswirtschaftliche Fakultät, … - 2011

In this paper, we use a two-period one-to-one matching model with incomplete information to examine the effect of changes in divorce costs on marital dissolution. Each individual who has a nontransferable expected utility about the quality of each potential marriage decides whether to marry or...

Persistent link: https://www.econbiz.de/10009323647

Strategic Allocation of Liquidity in the InterBank Money Market

Mallick, Indrajit - Volkswirtschaftliche Fakultät, … - 2004

-bank market is modeled in this paper. Relationship banking leads to private proprietary information that causes bargaining failure … in such markets with positive probability. Both independent and interdependent bargaining games are studied. It is shown … that the allocation is not constrained efficient under bargaining games without monetary intervention. Monetary …

Persistent link: https://www.econbiz.de/10004992040

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