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incentives to delay agreement as well as government durations. …
Persistent link: https://www.econbiz.de/10005805818
This paper analyzes situations in which a project consisting of several activities is not realized according to plan. If
Persistent link: https://www.econbiz.de/10008513246
We study a two-player dynamic investment model with information externalities and provide necessary and sufficient conditions for a unique switching equilibrium. When the public information is sufficiently high and a social planer therefore expects an investment boom, investments should be...
Persistent link: https://www.econbiz.de/10008542576
Persistent link: https://www.econbiz.de/10008491520
to study the problem. Some a criteria for the global robust asymptotic stability, which gives information on the delay …
Persistent link: https://www.econbiz.de/10004970154
preferences, results in bargaining inefficiencies: trade often occurs after costly delay. Thus, the model provides an explanation …
Persistent link: https://www.econbiz.de/10004988753
The role of strategic delay is analyzed in an infinite-horizon alternating-offer model of bargaining. A buyer and … trade exist, but due to the private information, only after costly delay. …
Persistent link: https://www.econbiz.de/10004988754
folk theorem obtains, so substantial delay is possible and the uninformed party may receive substantial surplus. The …
Persistent link: https://www.econbiz.de/10004988758
A buyer and seller alternate making offers until an offer is accepted or someone terminates negotiations. The seller's valuation is common knowledge, but the buyer's valuation is known only by the buyer. Impatience to reach an agreement comes from two sources: the traders discount future payoffs...
Persistent link: https://www.econbiz.de/10004988774
payoffs, if the seller's delay costs are higher than those of the buyer, then the bargainers are better off adopting a … sequential bargaining game rather than a static mechanism; however, when the buyer's delay costs are higher, then a static …
Persistent link: https://www.econbiz.de/10004988781