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-household bargaining model featuring endogenous social norms. In contrast to the previous literature, which assumes a homogeneous social …
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experiments that our distributed negotiation strategy yields performance sufficiently close to the Nash bargaining solution, and …
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This paper presents a model of opaque secondary markets. Investors meet over-the-counter to trade heterogeneous assets under asymmetric information. An endogenous composition effect emerges whereby high liquidity alters the quality of the pool of sellers and decreases future liquidity. With...
Persistent link: https://www.econbiz.de/10012842866
shocks to prices differently and, in light of auction and bargaining theories, suggest price momentum originates in sluggish … seller values. Our estimates indicate equal bargaining power in negotiations, that auctions mostly reflect buyers' values and …
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