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How Well Does Bargaining Work in Consumer Markets? A Robust Bounds Approach / Joachim Freyberger, Bradley Larsen.
- Format:
- Book
- Author/Creator:
- Freyberger, Joachim.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w29202.
- NBER working paper series no. w29202
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2021.
- Summary:
- This study provides a structural analysis of detailed, alternating-offer bargaining data from eBay, deriving bounds on buyers and sellers private value distributions using a range of assumptions on behavior. These assumptions range from very weak (assuming only that acceptance and rejection decisions are rational) to less weak (e.g., assuming that bargaining offers are weakly increasing in players' private values). We estimate the bounds and show what they imply for consumer negotiation behavior in theory and practice. For the median product, bargaining ends in impasses in 43% of negotiations even when the buyer values the good more than the seller.
- Notes:
- Print version record
- August 2021.
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