| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6557 |
| DP6557 Optimal Monetary Policy and the Sources of Local-Currency Price Stability | |
| Giancarlo Corsetti; Luca Dedola; Sylvain Leduc | |
| 发表日期 | 2007-11-09 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | We investigate, in a simple bilateral bargaining environment, the extent to which asymmetric information can induce individuals to engage in exchange where trade is not mutually profitable. We first establish a no-trade theorem for this environment. A laboratory experiment is conducted, where trade is found to occur between 16% and 32% of the time, depending on the specific details of the environment and trading mechanism. In most cases, buyers gain from such exchange, at the expense of sellers. An equilibrium model with naive, or 'cursed' beliefs accounts for some of the behaviour findings, but open questions remain. |
| 主题 | Financial Economics ; Industrial Organization ; Public Economics |
| 关键词 | Bilateral bargaining Experimental economics No-trade theorem Private information |
| URL | https://cepr.org/publications/dp6557 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535396 |
| 推荐引用方式 GB/T 7714 | Giancarlo Corsetti,Luca Dedola,Sylvain Leduc. DP6557 Optimal Monetary Policy and the Sources of Local-Currency Price Stability. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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