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Dependence in Private Values and Efficiency in Bilateral Trade

Author

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  • Georgia Kosmopoulou

    (University of Oklahoma)

Abstract

In a bargaining model with dependent private information, I extend the result on existence of efficient mechanisms allowing any distribution of the surplus among traders. This generalization introduces flexibility into the model since full surplus extraction by one trader is incompatible with ex post individual rationality.

Suggested Citation

  • Georgia Kosmopoulou, 2001. "Dependence in Private Values and Efficiency in Bilateral Trade," Economics Bulletin, AccessEcon, vol. 3(9), pages 1-7.
    • Handle: RePEc:ebl:ecbull:eb-01c70008
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    Keywords

    Bilateral Trade;

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory

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