Transaction costs can encourage Coasean bargaining
نویسندگان
چکیده
منابع مشابه
Dynamic Bargaining with Transaction Costs
A buyer and seller alternate making offers until an offer is accepted or someone terminates negotiations. The seller's valuation is common knowledge, but the buyer's valuation is known only by the buyer. Impatience to reach an agreement comes from two sources: the traders discount future payoffs and there are transaction costs of bargaining. Equilibrium behavior involves either immediate trade,...
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A simple two stage bilateral bargaining game is analyzed. The players simultaneously demand shares of a unit size pie in the first stage. If the demands add up to more than one, both players, in the second stage, simultaneously choose whether to stick to their demand or accept the other’s offer. While both parties sticking to their offers leads to an impasse, accepting a lower share than the or...
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Individuals across the world often use high-transaction-cost savings devices, even when lower-cost technologies are available. I study this phenomenon via a field experiment where access to ATM cards was randomly assigned to 1,100 newly opened bank accounts in rural Kenya. These cards reduced withdrawal fees by over 50 percent. While the cards increased overall account use, the positive treatme...
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ژورنال
عنوان ژورنال: Public Choice
سال: 2013
ISSN: 0048-5829,1573-7101
DOI: 10.1007/s11127-013-0117-3