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Paying to improve your chances : gambling or insurance?

McGuire, Martin C. - In: Journal of risk and uncertainty : JRU 4 (1991) 4, pp. 329-338

Persistent link: https://www.econbiz.de/10001116922

The fair and efficient division of the Winsor family silver

Pratt, John W. - In: Management science : journal of the Institute for … 36 (1990) 11, pp. 1293-1301

Persistent link: https://www.econbiz.de/10001100451

Possibly-final offers

Miller, Nolan; Pjankov, Nikita E.; Zeckhauser, Richard - In: Journal of economics & management strategy : JEMS 15 (2006) 3, pp. 789-819

Persistent link: https://www.econbiz.de/10003363675

Possibly-Final Offers

Miller, Nolan; Pjankov, Nikita E.; Zeckhauser, Richard - 2006

A price-setting seller faces a buyer with unknown reservation value. We show that if the buyer is sufficiently risk averse, the seller can benefit from employing a Possibly-Final Offer (PFO) strategy. In a PFO, if the buyer rejects the seller's initial offer the seller sometimes terminates the...

Persistent link: https://www.econbiz.de/10014056904