The Free Information Society Bargaining and Markets 8 pptx

... follows. If the state is [S, i, x] and the action Player i takes is “reject”, then the new state is [S, i]; if the action is “accept”, then the new state is [x]. If the state is [S, i] and the action ... bargainers is the first to make an offer. If the player who starts the bargaining has the preferences  2 while the player who is the first to respond has the p...

Ngày tải lên: 22/06/2014, 17:20

... and Rogoff (1 989 ) and Fernandez and Rosenthal (1990). The idea of endogenizing the timetable of bargaining when many issues are being negotiated is studied by Fershtman (1990) and Herrero (1 988 ). Models ... Jun (1 987 ) and Chae and Yang (1 988 ) study a model in which the players rotate in proposing a share for the next player in line; acceptance leads to the exit...

Ngày tải lên: 22/06/2014, 17:20

... Binmore (1 987 a, 1 987 c) and by van Damme (1 987 ). Roth (1 989 ) further discusses the relationship between the subgame per- fect equilibrium of the game with breakdown and the Nash solution, and Herrero ... for some history the strategies of Players 2 H and 2 L call for them to reject the agreement proposed by Player 1 and make the different counteroffers y and z,...

Ngày tải lên: 22/06/2014, 17:20

... the state. Ausubel and Deneckere (1992b) further study the model of Gul and Sonnenschein (1 988 ) (see the end of Section 5.4). In a model like that of Gul and Sonnenschein (1 988 ), Vincent (1 989 ) ... that the game is independent of the realization of the types: the strategy sets of the different types of buyer, and of seller, are the same, and the outcome of...

Ngày tải lên: 22/06/2014, 17:20

... new partners Figure 7.2 The structure of events withi n some period t. S and B stand for the seller and the buyer, and Y and N stand for acceptance and rejection. The numbers beside the branches are the probabilities ... type in the market. Then the limit of the unique market equilibrium price p ∗ as δ → 1 has the property that the area above the horizontal l...

Ngày tải lên: 22/06/2014, 17:20

... agents have information only about the index of the period and the names of the sellers and buyers in the market. (Thus they know more than just the numbers of sellers and buyers in the market.) ... ition 8. 2. Thus we view Proposition 8. 2 as the analog of Gale’s theorem in the case that the market contains a finite number of agents. Binmore and Herrero (1 988...

Ngày tải lên: 22/06/2014, 17:20

... return to the m odel of Section 8. 2. We change only the assumption ab out the agents’ information; 189 188 Chapter 9. The Role of the Trading Procedure Shaked and Sutton (1 984 a) and Bester (1 989 a) ... problems. Among these is the model of Horn and Wolinsky (1 988 ), in which the players are a firm and two unions. In this case the question whether an agreement...

Ngày tải lên: 22/06/2014, 17:20

... Political Economy 98, 1–27. [ 188 ] Casella, A., and J. S. Feinstein (1992), “A Note on Bargaining and Infla- tion”, Economics Letters 38, 393–3 98. [ 188 ] Chae, S., and J A. Yang (1 988 ), The Unique Perfect ... solution, 83 86 , 84 , 85 206 References nomic Theory 49, 189 –194. [119] McDonald, I. M., and R. M. Solow (1 981 ), “Wage Bargaining and Employ- ment”, American E...

Ngày tải lên: 22/06/2014, 17:20

... organized, the equipment and systems available to them, and the fiscal resources they command) represents the public health infrastructure for TB control. The responsibility for TB control and prevention ... between the jurisdictional health department and the affected community. The community should gain an understanding of the TB problem as it relates to them and s...

Ngày tải lên: 06/03/2014, 04:20

... of X), and the other player (j) either accepts the offer (chooses Y ) or rejects it (chooses N). If the offer is accepted, then the bargaining ends, and the agreement is implemented. If the offer ... further variants of the bargaining game of alternating offers, in the framework of a model of debt- renegotiation, are studied by Bulow and Rogoff (1 989 ) and Fernandez a...

Ngày tải lên: 08/04/2014, 12:15