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We study decentralized task coordination. Tasks are of varying complexity and agents asymmetric: agents capable of completing high-level tasks may also take on tasks originally contracted by lower-level agents, facilitating system-wide cost reductions. We suggest a family of decentralized...
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We examine a simple bargaining setting, where heterogeneous buyers and sellers are repeatedly matched with each other … bargain through some extensive game form. We take an implementation approach, characterizing the possible allocation rules …
Persistent link: https://www.econbiz.de/10005062338
questions of implementation theory under complete information in a setting with transfers, where farsighted coalitions are … for implementation in general, we show that every monotonic social choice rule can be implemented. These findings imply …
Persistent link: https://www.econbiz.de/10012503093
Negotiation involves determining not only an agreement's price, but also its content, which typically has many aspects. We model such negotiations and provide conditions under which negotiation leads to efficient outcomes, even in the face of substantial asymmetric information regarding the...
Persistent link: https://www.econbiz.de/10013005057
We develop a theory of negotiation in which deals have multiple dimensions that can be bundled together. We use theory and experiments to show that in such settings efficient trade is possible even with substantial asymmetric information. The benefits of identifying areas of mutual gain guide...
Persistent link: https://www.econbiz.de/10012852563
We prove existence of stationary Markov perfect equilibria in an infinite-horizon model of legislative policy making in which the policy outcome in one period determines the status quo for the next. We allow for a multidimensional policy space and arbitrary smooth stage utilities, and we assume...
Persistent link: https://www.econbiz.de/10010594322
Using a unique experimental data set, we investigate how asymmetric legal rights shape bargainers' aspiration levels through moral entitlements derived from equity norms and number prominence. Aspiration formation is typically hard to observe in real life. Our study involves 15 negotiations from...
Persistent link: https://www.econbiz.de/10011852710
In his classic article An Essay on Bargaining Schelling (1956) argues that ignorance might actually be strength rather … than weakness. We test and confirm Schelling's conjecture in a simple take-it-or-leave bargaining experiment where the …
Persistent link: https://www.econbiz.de/10010282588
We set up a rich bilateral bargaining model with four salient points (disagreement point, ideal point, reference point … determined. This model allows us to compare two bargaining solutions that use reference points, the Gupta-Livne solution and the … solutions place on the disagreement point do not directly imply a unique efficiency ranking in this bargaining problem with a …
Persistent link: https://www.econbiz.de/10011316643