This paper analyzes an infinite-horizon sequential bargaining game (with one-sided offers) between a buyer and a seller when the buyer's valuation depends on the seller's; the seller knows the value of the object and the buyer does not. The influence of relative discount factors on the solution is studied. It is shown, for example, that an impasse may result if the buyer (offeror) is too impatient relative to the seller: the buyer makes a single take-it-or-leave it offer. Copyright 1989 by The Review of Economic Studies Limited.
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Volume (Year): 56 (1989) Issue (Month): 4 (October) Pages: 499-510 Download reference. The following formats are available: HTML
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Paul Schweinzer, 2006.
"Sequential bargaining with pure common values,"
Discussion Papers
137, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
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Juan D Carrillo & Thomas R Palfrey, 2008.
"No Trade,"
Levine's Bibliography
122247000000001839, UCLA Department of Economics.
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