Publication:
Multidimensional bargaining and posted prices

dc.affiliation.dptoUC3M. Departamento de Economíaes
dc.contributor.authorHagen, Martin Norbert
dc.contributor.authorHernando, Ángel
dc.contributor.funderMinisterio de Economía y Competitividad (España)es
dc.contributor.funderComunidad de Madrides
dc.date.accessioned2022-07-15T10:43:16Z
dc.date.available2023-09-01T23:00:06Z
dc.date.issued2021-09-01
dc.description.abstractA seller and a buyer bargain over the quantities and prices of multiple goods. Both agents have private information about their preferences. Utility is quasilinear in money. We show that a deterministic mechanism satisfies (i) dominant-strategy incentive compatibility, (ii) ex-post individual rationality and (iii) ex-post budget balance if and only if it is a posted-price mechanism. A similar, more general result holds if (iii) is replaced by ex-post collusion-proofness and a no-free lunch condition. We provide a unified proof of both findings via the property of non-bossiness.en
dc.description.sponsorshipWe gratefully acknowledge financial support from the Spanish Ministry of Economy and Competitiveness, grants MDM 2014-0431 and ECO2015-68406-P, as well as from Comunidad de Madrid, grant MadEco-CM.en
dc.identifier.bibliographicCitationHagen, M., & Hernando-Veciana, Á. (2021). Multidimensional bargaining and posted prices. Journal of Economic Theory, 196, p. 105317.es
dc.identifier.doihttps://doi.org/10.1016/j.jet.2021.105317
dc.identifier.issn0022-0531
dc.identifier.publicationfirstpage1es
dc.identifier.publicationlastpage29es
dc.identifier.publicationtitleJOURNAL OF ECONOMIC THEORYen
dc.identifier.publicationvolume196es
dc.identifier.urihttps://hdl.handle.net/10016/35479
dc.identifier.uxxiAR/0000029302
dc.language.isoenges
dc.publisherElsevieres
dc.relation.projectIDGobierno de España. ECO2015-68406-Pes
dc.relation.projectIDGobierno de España. MDM 2014-0431es
dc.relation.projectIDComunidad de Madrid. MadEco-CMes
dc.rights© Elsevieres
dc.rightsAtribución-NoComercial-SinDerivadas 3.0 España*
dc.rights.accessRightsopen accessen
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/es/*
dc.subject.ecienciaEconomíaes
dc.subject.jelC72
dc.subject.jelD82
dc.subject.otherMechanism designen
dc.subject.otherBilateral tradeen
dc.subject.otherMultidimensional private informationen
dc.subject.otherPosted pricesen
dc.subject.otherDominant strategiesen
dc.subject.otherCollusion-proofnessen
dc.titleMultidimensional bargaining and posted pricesen
dc.typeresearch article*
dc.type.hasVersionAM*
dspace.entity.typePublication
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