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Rubinstein auctions : On competition for bargaining partners

Author

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  • Chatterjee, K.

    (Tilburg University, Center For Economic Research)

  • Dutta, B.

    (Tilburg University, Center For Economic Research)

Abstract

AbstractThis paper analyzes the effect of competition for bargaining partners on the prices that prevail in thin markets. as well as how the matches are simultaneously determined. Three trading processes or bargaining procedures are described. In all the variants that we consider, except for one case of public offers, either there is no pure strategy subgame perfect equilibrium or such equilibria exhibit delay in reaching agreement.
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Suggested Citation

  • Chatterjee, K. & Dutta, B., 1994. "Rubinstein auctions : On competition for bargaining partners," Discussion Paper 1994-57, Tilburg University, Center for Economic Research.
  • Handle: RePEc:tiu:tiucen:1ec503da-10a1-46ca-a6a9-e54c8369cc4c
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    File URL: https://pure.uvt.nl/portal/files/1153779/KCBD5617471.pdf
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    References listed on IDEAS

    as
    1. Rubinstein, Ariel, 1982. "Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 50(1), pages 97-109, January.
    2. Hendon, Ebbs & Tranaes, Torben, 1991. "Sequential bargaining in a market with one seller and two different buyers," Games and Economic Behavior, Elsevier, vol. 3(4), pages 453-466, November.
    3. Fudenberg, Drew & Levine, David I & Maskin, Eric, 1994. "The Folk Theorem with Imperfect Public Information," Econometrica, Econometric Society, vol. 62(5), pages 997-1039, September.
    4. Kalyan Chatterjee & Bhaskar Dutia & Debraj Ray & Kunal Sengupta, 2013. "A Noncooperative Theory of Coalitional Bargaining," World Scientific Book Chapters,in: Bargaining in the Shadow of the Market Selected Papers on Bilateral and Multilateral Bargaining, chapter 5, pages 97-111 World Scientific Publishing Co. Pte. Ltd..
    5. Rubinstein, Ariel & Wolinsky, Asher, 1985. "Equilibrium in a Market with Sequential Bargaining," Econometrica, Econometric Society, vol. 53(5), pages 1133-1150, September.
    6. Gale, Douglas M, 1986. "Bargaining and Competition Part I: Characterization," Econometrica, Econometric Society, vol. 54(4), pages 785-806, July.
    7. van Damme, E.E.C. & Bennet, E., 1991. "Demand commitment bargaining : The case of apex games," Other publications TiSEM a2976a1b-d490-459d-8d59-a, Tilburg University, School of Economics and Management.
    8. Ariel Rubinstein & Asher Wolinsky, 1990. "Decentralized Trading, Strategic Behaviour and the Walrasian Outcome," Review of Economic Studies, Oxford University Press, vol. 57(1), pages 63-78.
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    Citations

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    Cited by:

    1. Li, Duozhe, 2010. "A multilateral telephone bargaining game," Economics Letters, Elsevier, vol. 108(1), pages 43-45, July.
    2. Roy Chowdhury, Prabal & Sengupta, Kunal, 2012. "Transparency, complementarity and holdout," Games and Economic Behavior, Elsevier, vol. 75(2), pages 598-612.
    3. Michael Sattinger, 2002. "A Queuing Model of the Market for Access to Trading Partners," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 43(2), pages 533-548, May.
    4. Michael Sattinger, 2003. "Price Dynamics and the Market for Access to Trading Partners," Discussion Papers 03-10, University at Albany, SUNY, Department of Economics.
    5. Kalyan Chatterjee & Kaustav Das, 2015. "Decentralised bilateral trading, competition for bargaining partners and the “law of one price”," International Journal of Game Theory, Springer;Game Theory Society, vol. 44(4), pages 949-991, November.
    6. Calvo-Armengol, Antoni, 2003. "A decentralized market with trading links," Mathematical Social Sciences, Elsevier, vol. 45(1), pages 83-103, February.
    7. Charness, Gary & Corominas-Bosch, Margarida & Frechette, Guillaume R., 2007. "Bargaining and network structure: An experiment," Journal of Economic Theory, Elsevier, vol. 136(1), pages 28-65, September.
    8. Roy Chowdhury, Prabal & Sengupta, Kunal, 2008. "Multi-person Bargaining With Complementarity: Is There Holdout?," MPRA Paper 11517, University Library of Munich, Germany.
    9. Matteo M. Galizzi, 2009. "Bargaining and Networks in a Gas Bilateral Oligopoly," Working Papers 0906, University of Brescia, Department of Economics.
    10. Gary E. Bolton & Kalyan Chatterjee & Kathleen L. McGinn, 2003. "How Communication Links Influence Coalition Bargaining: A Laboratory Investigation," Management Science, INFORMS, vol. 49(5), pages 583-598, May.
    11. Chatterjee, Kalyan & Dutta, Bhaskar, 2006. "Markets with Bilateral Bargaining and Incomplete Information," The Warwick Economics Research Paper Series (TWERPS) 762, University of Warwick, Department of Economics.
    12. Corominas-Bosch, Margarida, 2004. "Bargaining in a network of buyers and sellers," Journal of Economic Theory, Elsevier, vol. 115(1), pages 35-77, March.
    13. Charles J. Thomas, 2012. "An Alternating-Offers Model of Multilateral Negotiations," Working Papers 12-31, Chapman University, Economic Science Institute.
    14. repec:eee:gamebe:v:106:y:2017:i:c:p:89-113 is not listed on IDEAS
    15. Matteo Maria GALIZZI, 2006. "Gas thin markets:insights from bargaining and networks models," Departmental Working Papers 2006-12, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.

    More about this item

    Keywords

    Trade; Competition; Bargaining; Auctions;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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