Abstract The flourishing internet-based trade motivates our model of two-sided markets with multilevel mediation, in which a seller, intermediaries at various levels and buyers are embedded in a symmetric tree. Adapting the framework of the single-unit first price auction to trees, we show, in...

We consider a multilateral bargaining game in which the agents can be classified into two groups according to their instantaneous preferences. In one of these groups there is one agent with a different discount factor. We analyze how this time-preference heterogeneity may generate multiplicity...

We consider a multilateral bargaining game in which the agents can be classified into two groups according to their instantaneous preferences. In one of these groups there is one agent with a different discount factor. We analyze how this time-preference heterogeneity may generate multiplicity...