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What matters in a price negotiation: Evidence from the U.S. auto retailing industry

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  • Fiona Scott Morton

    ()

  • Jorge Silva-Risso

    ()

  • Florian Zettelmeyer

    ()

Abstract

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Suggested Citation

  • Fiona Scott Morton & Jorge Silva-Risso & Florian Zettelmeyer, 2011. "What matters in a price negotiation: Evidence from the U.S. auto retailing industry," Quantitative Marketing and Economics (QME), Springer, vol. 9(4), pages 365-402, December.
  • Handle: RePEc:kap:qmktec:v:9:y:2011:i:4:p:365-402
    DOI: 10.1007/s11129-011-9108-1
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    References listed on IDEAS

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    1. Rubinstein, Ariel, 1982. "Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 50(1), pages 97-109, January.
    2. Punj, Girish N & Staelin, Richard, 1983. " A Model of Consumer Information Search Behavior for New Automobiles," Journal of Consumer Research, Oxford University Press, vol. 9(4), pages 366-380, March.
    3. Kiefer, Nicholas M & Neumann, George R, 1979. "An Empirical Job-Search Model, with a Test of the Constant Reservation-Wage Hypothesis," Journal of Political Economy, University of Chicago Press, vol. 87(1), pages 89-107, February.
    4. Brian T. Ratchford & Narasimhan Srinivasan, 1993. "An Empirical Investigation of Returns to Search," Marketing Science, INFORMS, vol. 12(1), pages 73-87.
    5. Weg, Eythan & Zwick, Rami, 1991. "On the rebustness of perfect equilibrium in fixed cost sequential bargaining under an isomorphic transformation," Economics Letters, Elsevier, vol. 36(1), pages 21-24, May.
    6. Rami Zwick & Amnon Rapoport & Alison King Chung Lo & A. V. Muthukrishnan, 2003. "Consumer Sequential Search: Not Enough or Too Much?," Marketing Science, INFORMS, vol. 22(4), pages 503-519, October.
    7. Srinivasan, Narasimhan & Ratchford, Brian T, 1991. " An Empirical Test of a Model of External Search for Automobiles," Journal of Consumer Research, Oxford University Press, vol. 18(2), pages 233-242, September.
    8. Wolinsky, Asher, 1987. "Matching, search, and bargaining," Journal of Economic Theory, Elsevier, vol. 42(2), pages 311-333, August.
    9. Drew Fudenberg & Jean Tirole, 1991. "Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061414, January.
    10. Ayres, Ian & Siegelman, Peter, 1995. "Race and Gender Discrimination in Bargaining for a New Car," American Economic Review, American Economic Association, vol. 85(3), pages 304-321, June.
    11. Chatterjee, Kalyan & Lee, Ching Chyi, 1998. "Bargaining and Search with Incomplete Information about Outside Options," Games and Economic Behavior, Elsevier, vol. 22(2), pages 203-237, February.
    12. John P. Harding & Stuart S. Rosenthal & C. F. Sirmans, 2003. "Estimating Bargaining Power in the Market for Existing Homes," The Review of Economics and Statistics, MIT Press, vol. 85(1), pages 178-188, February.
    13. Kennan, John & Wilson, Robert, 1993. "Bargaining with Private Information," Journal of Economic Literature, American Economic Association, vol. 31(1), pages 45-104, March.
    14. Croson, Rachel & Boles, Terry & Murnighan, J. Keith, 2003. "Cheap talk in bargaining experiments: lying and threats in ultimatum games," Journal of Economic Behavior & Organization, Elsevier, vol. 51(2), pages 143-159, June.
    15. Gul, Faruk & Sonnenschein, Hugo & Wilson, Robert, 1986. "Foundations of dynamic monopoly and the coase conjecture," Journal of Economic Theory, Elsevier, vol. 39(1), pages 155-190, June.
    16. Peltzman, Sam, 1975. "The Effects of Automobile Safety Regulation," Journal of Political Economy, University of Chicago Press, vol. 83(4), pages 677-725, August.
    17. Beatty, Sharon E & Smith, Scott M, 1987. " External Search Effort: An Investigation across Several Product Categories," Journal of Consumer Research, Oxford University Press, vol. 14(1), pages 83-95, June.
    18. Perry, Motty, 1986. "An Example of Price Formation in Bilateral Situations: A Bargaining Model with Incomplete Information," Econometrica, Econometric Society, vol. 54(2), pages 313-321, March.
    19. Rami Zwick & Ching Chyi Lee, 1999. "Bargaining and Search: An Experimental Study," Experimental 9902003, EconWPA.
    20. Drew Fudenberg & David K. Levine & Jean Tirole, 1985. "Infinite-Horizon Models of Bargaining with One-Sided Incomplete Information," Levine's Working Paper Archive 1098, David K. Levine.
    21. George J. Stigler, 1961. "The Economics of Information," Journal of Political Economy, University of Chicago Press, vol. 69, pages 213-213.
    22. Narendranathan, Wiji & Nickell, Stephen, 1985. "Modelling the process of job search," Journal of Econometrics, Elsevier, vol. 28(1), pages 29-49, April.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Madarász, Kristóf, 2015. "Bargaining under the Illusion of Transparency," CEPR Discussion Papers 10327, C.E.P.R. Discussion Papers.
    2. Selcuk, Cemil & Gokpinar, Bilal, 2017. "Fixed vs. Flexible Pricing in a Competitive Market," Cardiff Economics Working Papers E2017/9, Cardiff University, Cardiff Business School, Economics Section.
    3. Xavier D'hautfoeuille & Isis Durrmeyer & Philippe Février, 2014. "Automobile Prices in Market Equilibrium with Unobserved Price Discrimination," Working Papers 2014-38, Center for Research in Economics and Statistics.
    4. Matthew Grennan & Ashley Swanson, 2016. "Transparency and Negotiated Prices: The Value of Information in Hospital-Supplier Bargaining," NBER Working Papers 22039, National Bureau of Economic Research, Inc.
    5. repec:bla:jindec:v:65:y:2017:i:2:p:235-274 is not listed on IDEAS
    6. Fay, Scott & Lee, Seung Hwan (Shawn), 2015. "The role of customer expectations in name-your-own-price markets," Journal of Business Research, Elsevier, vol. 68(3), pages 675-683.
    7. Mariana Cunha & António Osório & Ricardo Ribeiro, 2016. "Endogenous product design and quality with rationally inattentive consumers," Working Papers de Economia (Economics Working Papers) 03, Católica Porto Business School, Universidade Católica Portuguesa.

    More about this item

    Keywords

    Bargaining; Search; Consumer characteristics; Survey; Auto industry; D82; L11; L15; L62; L81; M31;

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
    • L62 - Industrial Organization - - Industry Studies: Manufacturing - - - Automobiles; Other Transportation Equipment; Related Parts and Equipment
    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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