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Strategic disclosure of feasible options

Listed author(s):
  • de Clippel, Geoffroy
  • Eliaz, Kfir

The paper illustrates how people who need to make a joint decision may have an incentive to withhold information regarding the existence of Pareto improving options. The resulting level of inefficiency varies with the way compromises are reached when the parties have to choose among multiple options. Various reasonable compromise rules can be ranked unequivocally, and a rule resulting in a minimal level of inefficiency is identified. Qualitative results extend to sequential disclosure. Enforcing a hard deadline for disclosure may be welfare improving in some circumstances.

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File URL: http://www.sciencedirect.com/science/article/pii/S0899825615000391
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Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 91 (2015)
Issue (Month): C ()
Pages: 145-165

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Handle: RePEc:eee:gamebe:v:91:y:2015:i:c:p:145-165
DOI: 10.1016/j.geb.2015.02.016
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622836

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  1. Frankel, David M., 1998. "Creative Bargaining," Games and Economic Behavior, Elsevier, vol. 23(1), pages 43-53, April.
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  8. Ponsati C. & Sakovics, J., 1996. "The war of attrition with incomplete information," Mathematical Social Sciences, Elsevier, vol. 31(1), pages 54-54, February.
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  10. Li Hao & Wing Suen, 2009. "Viewpoint: Decision-making in committees," Canadian Journal of Economics, Canadian Economics Association, vol. 42(2), pages 359-392, May.
  11. Janusz A. Ordover & Ariel Rubinstein, 1986. "A Sequential Concession Game with Asymmetric Information," The Quarterly Journal of Economics, Oxford University Press, vol. 101(4), pages 879-888.
  12. Gul, Faruk & Lundholm, Russell, 1995. "Endogenous Timing and the Clustering of Agents' Decisions," Journal of Political Economy, University of Chicago Press, vol. 103(5), pages 1039-1066, October.
  13. Olivier Compte & Philippe Jehiel, 2004. "Gradualism in Bargaining and Contribution Games," Review of Economic Studies, Oxford University Press, vol. 71(4), pages 975-1000.
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