Arbeitspapier

Efficiency in Bargaining with Information Externalities

Bargaining is examined for the situation in which each party has private information regarding their valuation of the good as well as the value of the good to the other party. The k-double auction and the first-and-final offer bargaining game are shown not to be ex ante incentive efficient. This result contrasts with the independent private values case. A trading process based on priority pricing is shown to implement the ex ante incentive efficient mechanism.

Sprache
Englisch

Erschienen in
Series: Discussion Paper ; No. 941R

Klassifikation
Wirtschaft
Asymmetric and Private Information; Mechanism Design

Ereignis
Geistige Schöpfung
(wer)
Spulber, Daniel F.
Ereignis
Veröffentlichung
(wer)
Northwestern University, Kellogg School of Management, Center for Mathematical Studies in Economics and Management Science
(wo)
Evanston, IL
(wann)
1991

Handle
Letzte Aktualisierung
10.03.2025, 11:41 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Spulber, Daniel F.
  • Northwestern University, Kellogg School of Management, Center for Mathematical Studies in Economics and Management Science

Entstanden

  • 1991

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