A new equilibrium in the one-sided asymmetric information market with pairwise meetings
We reconsider the model used byÂ Serrano and Yosha (1993) who were interested in information revelation in markets with pairwise meetings. We prove that there exists an additional equilibrium not detected in the original paper and show that this equilibrium is characterized by incomplete revelation of information which was not the case of the other already identified equilibria of the model.
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- Piero Gottardi & Roberto Serrano, 2005.
"Market Power And Information Revelation In Dynamic Trading,"
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- Piero Gottardi & Roberto Serrano, 2002. "Market Power and Information Revelation in Dynamic Trading," Game Theory and Information 0203005, EconWPA.
- Piero Gottardi & Roberto Serrano, 2002. "Market Power and Information Revelation in Dynamic Trading," Economics Working Papers 0027, Institute for Advanced Study, School of Social Science.
- Piero Gottardi & Roberto Serrano, 2004. "Market Power and Information Revelation in Dynamic Trading," CESifo Working Paper Series 1300, CESifo Group Munich.
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Springer, vol. 8(1), pages 167-175.
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- Serrano, Roberto & Yosha, Oved, 1993. "Information Revelation in a Market with Pairwise Meetings: The One Sided Information Case," Economic Theory, Springer, vol. 3(3), pages 481-99, July.
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- Douglas Gale, 2010. "Limit theorems for markets with sequential bargaining," Levine's Working Paper Archive 621, David K. Levine.
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"Information Revelation in a Market with Pairwise Meetings,"
Econometric Society, vol. 58(1), pages 1-23, January.
- Wolinsky, Asher, 1987. "Information Revelation in a Market with Pairwise Meetings," The Warwick Economics Research Paper Series (TWERPS) 284, University of Warwick, Department of Economics.
- Blouin, Max R & Serrano, Roberto, 2001.
"A Decentralized Market with Common Values Uncertainty: Non-Steady States,"
Review of Economic Studies,
Wiley Blackwell, vol. 68(2), pages 323-46, April.
- 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.
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