Information revelation in markets with pairwise meetings : dynamic case with constant entry flow

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Information revelation in markets with pairwise meetings : dynamic case with constant entry flow

Author Info

Tanguy, ISAAC (UNIVERSITE CATHOLIQUE DE LOUVAIN, Department of Economics)

Abstract

We study information revelation in markets with pairwise meetings. We focus on the one sided case and perform a dynamic analysis of a constant entry flow model. The same question has been studied in an identical framework in Serrano and Yosha (1993) but they limit their analysis to the stationary steady states. Blouin and Serrano (2001) study information revelation in a one-time entry model and obtain results different than Serrano and Yosha (1993). We show that there is dramatically loss when restricting the analysis of a constant flow entry model to stationary steady states. Nevertheless, we show that this loss might not explain completely the difference in the results presented in the two papers.

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Paper provided by Université catholique de Louvain, Département des Sciences Economiques in its series Discussion Papers (ECON - Département des Sciences Economiques) with number 2006026.

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Length: 26
Date of creation: 15 May 2006
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Handle: RePEc:ctl:louvec:2006026

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Find related papers by JEL classification:
D49 - Microeconomics - - Market Structure and Pricing - - - Other
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information
D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information

This paper has been announced in the following NEP Reports:

NEP-ALL-2006-11-04 (All new papers)

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Rubinstein, Ariel & Wolinsky, Asher, 1990. "Decentralized Trading, Strategic Behaviour and the Walrasian Outcome," Review of Economic Studies, Blackwell Publishing, vol. 57(1), pages 63-78, January. [Downloadable!] (restricted)
Gale, Douglas M, 1986. "Bargaining and Competition Part I: Characterization," Econometrica, Econometric Society, vol. 54(4), pages 785-806, July. [Downloadable!] (restricted)
Gale, Douglas M, 1986. "Bargaining and Competition Part II: Existence," Econometrica, Econometric Society, vol. 54(4), pages 807-18, July. [Downloadable!] (restricted)
Max Blouin & Roberto Serrano, 1998. "A Decentralized Market with Common Values Uncertainty: Non-Steady States," Working Papers 98-5, Brown University, Department of Economics, revised 10 Aug 1998. [Downloadable!]
Other versions:
- Blouin, Max R & Serrano, Roberto, 2001. "A Decentralized Market with Common Values Uncertainty: Non-Steady States," Review of Economic Studies, Blackwell Publishing, vol. 68(2), pages 323-46, April.
Gale, Douglas, 1987. "Limit theorems for markets with sequential bargaining," Journal of Economic Theory, Elsevier, vol. 43(1), pages 20-54, October. [Downloadable!] (restricted)
Martin J. Osborne & Ariel Rubinstein, 2005. "Bargaining and Markets," Levine's Bibliography 666156000000000515, UCLA Department of Economics. [Downloadable!]
Binmore, Ken G & Herrero, M J, 1988. "Matching and Bargaining in Dynamic Markets," Review of Economic Studies, Blackwell Publishing, vol. 55(1), pages 17-31, January. [Downloadable!] (restricted)

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