## Bargaining with incomplete information |

### What people are saying - Write a review

We haven't found any reviews in the usual places.

### Contents

EQUILIBRIA OF THE SEALEDBID MECHANISM | 6 |

BARGAINING UNDER INCOMPLETE INFORMATION | 27 |

THE RATE AT WHICH A SIMPLE MARKET CONVERGES | 70 |

Copyright | |

14 other sections not shown

### Common terms and phrases

accepts allocation rule assumption bargaining game bargaining mechanism Bayesian Bayesian game behavior beliefs bid distributions bilateral buyer and seller cheap talk Coase conjecture condition consumers converges cost counteroffer defined denote discount factor double auction Econ equations equilibrium outcome equilibrium path equilibrium strategies ex ante efficient ex post efficient ex post individually example exists expected gains expected profit expected utility Experiment function gains from trade Gresik implies incentive compatible incentive efficient incentive feasible incomplete information individually rational interim efficient interval Lemma linear equilibrium maximizes minimax-regret mixed strategy monopolist monopoly Myerson and Satterthwaite Nash Nash equilibrium negotiation Observe offer optimal pair payoff perfect equilibrium period player post individually rational price path priors probability Proposition pure strategies reservation value Revelation Principle satisfies Satterthwaite sealed-bid mechanism Section sequence sequential bargaining sequential equilibrium solution subgame perfect equilibrium Theory tion trade occurs zero