Stochastic sequential bargaining games (Merlo and Wilson (1995, 1998)) have found wide applications in various fields including political economy and macroeconomics due to their flexibility in explaining delays in reaching agreement. In this paper, we present new results in non-parametric...

Stochastic sequential bargaining games (Merlo and Wilson (1995, 1998)) have found wide applications in various fields including political economy and macroeconomics due to their flexibility in explaining delays in reaching an agreement. In this paper, we present new results in nonparametric...

We examine markets in which agents make investments and then match into pairs, creating surpluses that depend on their investments and that can be split between the matched agents. In general, each of the matched agents would ”own" part of the surplus in the absence of interagent transfers....

We analyze a model in which agents make investments and then match into pairs to create a surplus. The agents can make transfers to reallocate their pretransfer ownership claims on the surplus. Mailath, Postlewaite, and Samuelson (2013) showed that when investments are unobservable, equilibrium...

We analyze a labor search model in which workers choose their search intensity by deciding how often and where to apply for jobs. They observe firms' wage postings prior to their decision. Due to coordination frictions a firm may not receive any applications; otherwise it is able to hire unless...

Stochastic sequential bargaining models (Merlo and Wilson (1995, 1998) have found wide applications in different fields including political economy and macroeconomics due to their flexibility in explaining delays in reaching an agreement. This paper presents new results in nonparametric...

Stochastic sequential bargaining models (Merlo and Wilson (1995, 1998)) have found wide applications in different fields including political economy and macroeconomics due to their flexibility in explaining delays in reaching an agreement. This paper presents new results in nonparametric...

We study a two-stage choice problem, where alternatives are allocations between the decision maker (DM) and a passive recipient. The recipient observes choice behavior in stage two, while stage one choice is unobserved. Choosing selfishly in stage two, in the face of a fairer available...

This article gives a brief introduction to reputation effects. A canonical model is described, the reputation bound result of Fudenberg and Levine (1989 1992) and the temporary reputation result of Cripps, Mailath, and Samuelson (2004, 2007) are stated and discussed

We study models that combine search, monetary exchange, price posting by sellers, and buyers with preferences that differ across random meetings; say, because sellers in different meetings produce different varieties of the same good. We show how these features interact to influence the price...