This article investigates how information asymmetries affect the organization of markets in which sellers are also experts who determine customers' needs. It examines how customers' search for multiple opinions and reputation considerations each play a role in disciplining experts. It shows that...

This article establishes the relationship between the static axiomatic theory of bargaining and the sequential strategic approach to bargaining. We consider two strategic models of alternating offers. The models differ in the source of the incentive of the bargaining parties to reach agreement:...

We analyze a duopoly in which firms acquire inputs through bilateral monopoly relations with suppliers. We combine a bargaining model with a duopoly model to examine how input prices and profits are affected by the structures of the upstream and downstream industries, by the demand relations...