Showing 1 - 3 of 3
Persistent link: https://www.econbiz.de/10010859214
We show the existence of a pure strategy, symmetric, increasing equilibrium in dou- ble auction markets with correlated, conditionally independent private values and many participants. The equilibrium we ï¬nd is arbitrarily close to fully revealing as the market size grows. Our results provide...
Persistent link: https://www.econbiz.de/10010549926
This paper builds a theory of trust based on informal contract enforcement in social networks. In our model, network connections between individuals can be used as social collateral to secure informal borrowing. We define network-based trust as the highest amount one agent can borrow from...
Persistent link: https://www.econbiz.de/10010549930