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In this paper we experimentally compare three implementations of Winter demand commitment bargaining mechanism: a one-period implementation, a twoperiod implementation with low and with high delay costs. Despite the different theoretical predictions, our results show that the three different...
Persistent link: https://www.econbiz.de/10012695303
We experimentally compare two well-known mechanisms inducing the Shapley value as an ex ante equilibrium outcome of a noncooperative bargaining procedure: the demand-basedWinter's demand commitment bargaining mechanism and the offer-based Hart and Mas-Colell procedure. Our results suggest that...
Persistent link: https://www.econbiz.de/10013252966
bidding stage on the resulting outcomes such as the frequency of grand coalition formation, efficiency, and the distance … greater efficiency than PC-W, but also that the average allocation is closer to the Shapley value for those groups that formed …
Persistent link: https://www.econbiz.de/10013252972
frequency of the grand coalition formation, the higher efficiency, and the allocation belonging to the bargaining set is …
Persistent link: https://www.econbiz.de/10014451922