Terwiesch, Christian; Savin, Sergei; Hann, Il-Horn - In: Management Science 51 (2005) 3, pp. 339-351
We present a formal model of haggling between a name-your-own-price retailer and a set of individual buyers. Rather than posting a price, the retailer waits for potential buyers to submit offers for a given product and then chooses to either accept or reject them. Consumers whose offers have...