haku: @author Bose, G. / yhteensä: 1
viite: 1 / 1
« edellinen | seuraava »
| Tekijä: | Bose, G. |
| Otsikko: | Bargaining economies with patient and impatient agents: equilibria and intermediation |
| Lehti: | Games and Economic Behavior
1996 : JUN, VOL. 14:2, p. 149-172 |
| Asiasana: | ECONOMIC BEHAVIOUR BARGAINING GAMES |
| Kieli: | eng |
| Tiivistelmä: | This paper investigates the characteristics of steady-state equilibria in a bargaining economy in which there are both patient and impatient agents and the possibility of intermediation arising in such an economy. The equilibrium in the unmediated economy is inefficient if the proportion of impatient agents is sufficiently high. There is a simple fee mechanism, which induces patient and impatient agents to trade in separate groups, under which there is always an efficient equilibrium. Such separation is also induced by the option to trade at fixed prices. |
« edellinen | seuraava »
SCIMA