Showing 1 - 10 of 34
it pays the union during the negotiation of a new wage contract. To understand this regulation, we study a counterfactual … negotiation model where the firm can temporarily increase compensation to its employees during wage negotiations. Comparing this …
Persistent link: https://www.econbiz.de/10005702693
librarians are concerned about the possibility that publishers might abuse site licensing by practicing bundling. In this paper …, we analyze how bundling affects journal pricing in the context of STM electronic journal market and offer a novel insight … on the bundling of a large number of information goods. We find that (i) when bundling is prohibited, surprisingly …
Persistent link: https://www.econbiz.de/10005063744
This paper studies the role of bundling in the efficient provision of excludable public goods. We show that bundling in … can be approximated with pure bundling. For a parametric class of problems with binary valuations, we characterize the … optimal mechanism, and show that bundling alleviates the free riding problem in large economies and decreases the extent of …
Persistent link: https://www.econbiz.de/10005342210
This paper develops a search-theoretic model of the cross-sectional distribution of asset returns. It abstracts from risk premia and focuses exclusively on liquidity. A float-adjusted return model (FARM) is derived, explaining the pricing of liquidity with a simple linear formula: In...
Persistent link: https://www.econbiz.de/10005063574
This paper evaluates performance of human subjects and instances of a bidding model that interact in continuous-time double auction experiments. Asks submitted by instances of the seller model ("automated sellers") maximize the seller's expected surplus relative to a heuristic belief function,...
Persistent link: https://www.econbiz.de/10005063604
Admati and Perry (1987) derive the equilibrium in a bargaining game between a seller and buyer when the buyer's valuation is private information. They show that, for some parameter values, trade occurs at the Rubinstein (1982) prices given the buyer's true valuation (pl if the buyer has a low...
Persistent link: https://www.econbiz.de/10005063605
In this paper, we develop a search-based model of asset trading. We assume that investors differ in their horizons, and can invest in two identical assets. The asset markets are partially segmented: investors can search in only one market, but can decide which one. We show that there exist a...
Persistent link: https://www.econbiz.de/10005063610
This work introduces a rigorous set-theoretic foundation of bilateral matching mechanisms and studies their properties in a systematic manner. By providing a unified framework to study ilateral matching mechanisms, we formalize how different spatial/informational constraints can be implemented...
Persistent link: https://www.econbiz.de/10005063736
We take the view that alternative trading opportunities may influence the loss to delay in a bargaining situation, and show that contractual exclusivity may then be relevant even for ‘internal’ investments, contradicting a recent finding by Segal and Whinston (2000). When a buyer is an...
Persistent link: https://www.econbiz.de/10005699667
This paper considers the ``negotiation game'' Busch and Wen (1995)) which combines the features of two …-person alternating offers bargaining and repeated games. Despite the forces of bargaining, the negotiation game in general admits a large …
Persistent link: https://www.econbiz.de/10005699675