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Multilateral Bargaining with Information Spillovers

Author

Listed:
  • Vladimir Asriyan
  • William Fuchs
  • Caio Lorecchio

Abstract

We study dynamic monopoly pricing with multiple buyers whose valuations are privately known and correlated, so that one buyer 's purchase reveals information about the valuations of others. Without seller commitment, these information spillovers alter future pricing incentives and feed back into current demand. We show that they generate strategic complementarities in buyers' purchase decisions, making demand non-monotone and giving rise to equilibrium multiplicity. Information spillovers can either strengthen or weaken the seller 's effective commitment power, implying that seller revenue, buyer surplus, and total welfare are generically non-monotonic in the strength of spillovers. We characterize when these spillovers encourage data investment and experimentation, as well as facilitate coordination that mitigates hold-up.

Suggested Citation

  • Vladimir Asriyan & William Fuchs & Caio Lorecchio, 2026. "Multilateral Bargaining with Information Spillovers," Working Papers 1598, Barcelona School of Economics.
    • Handle: RePEc:bge:wpaper:1598
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    Keywords

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    JEL classification:

    • D42 - Microeconomics - - Market Structure, Pricing, and Design - - - Monopoly
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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