| 来源类型 | FEEM working papers "Note di lavoro" series
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| 规范类型 | 论文
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| Bargaining and Delay in Trading Networks |
| Mikel Bedayo; Ana Mauleon; Vincent Vannetelbosch
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| 发表日期 | 2013
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| 出处 | Climate Change and Sustainable Development
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| 出版年 | 2013
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| 语种 | 英语
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| 摘要 | We study a model in which heterogeneous agents first form a trading network where link formation is costless. Then, a seller and a buyer are randomly selected among the agents to bargain through a chain of intermediaries. We determine both the trading path and the allocation of the surplus among the seller, the buyer and the intermediaries at equilibrium. We show that a trading network is pairwise stable if and only if it is a core periphery network where the core consists of all weak (or impatient) agents who are linked to each other and the periphery consists of all strong (or patient) agents who have a single link towards a weak agent. Once agents do not know the impatience of the other agents, each bilateral bargaining session may involve delay, but not perpetual disagreement, in equilibrium. When an agent chooses another agent on a path from the buyer to the seller to negotiate bilaterally a partial agreement, her choice now depends both on the type of this other agent and on how much time the succeeding agents on the path will need to reach their partial agreements. We provide sufficient conditions such that core periphery networks are pairwise stable in presence of private information. |
| 特色分类 | C70;D60;J50
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| 关键词 | Bargaining
Trading networks
Private information
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| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/bargaining-and-delay-in-trading-networks/
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| 来源智库 | Fondazione Eni Enrico Mattei (Italy)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/118134
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推荐引用方式
GB/T 7714 |
Mikel Bedayo,Ana Mauleon,Vincent Vannetelbosch. Bargaining and Delay in Trading Networks. 2013.
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2013128145461Nota_di_Lavoro.jpg
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JPEG
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2013241134364NDL2013-001.pdf
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Adobe PDF
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