agents increases inefficient delay and reduces agents' welfare. This occurs in spite of the lack of informational asymmetries …

positions. We ask under which conditions such markets clear efficiently and find that inefficiencies -- mismatch and delay … -- feature frequently. Mismatch occurs whenever an agent's bargaining position is at risk of deteriorating. Delay occurs whenever … agents expect their bargaining position to improve. Delay can be extensive and structured with vertically differentiated …

behavior reduces the likelihood of cheating. Furthermore, allowing for a delay between the time when private information is …

-hyperbolic time preferences increasingly common in the economics literature - equilibrium is unique and lacks delay. However, when one … bargainer is more patient about a single period's delay from the present than one that occurs in the near future, the game … permits a novel form of equilibrium multiplicity and delay. Time preferences with this property have most recently been …

On the basis of literature on delay discounting, potential mechanisms of relations between self-control and altruism …

equilibrium exists independently of the number of players, and the delay in this equilibrium is increasing in the number of … sufficiently large. The expected inefficiency due to delay at the least and at the most efficient equilibrium increases as the … number of players increases. Under any (super)majority rule, however, there is no equilibrium with delay or inefficiency. The …