Efficient bilateral trade with interdependent values: The use of two-stage mechanisms

Efficient bilateral trade with interdependent values: The use of two-stage mechanisms

As efficient, voluntary bilateral trades are generally not incentive compatible in an interdependent-value environment (Fieseler, Kittsteiner, Moldovanu (2003) and Gresik (1991)), we seek for more positive results by employing two-stage mechanisms (Mezzetti (2004)). We say that a two-stage mechanism s...

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Bibliographic Details
Main Authors: KUNIMOTO, Takashi, ZHANG, Cuiling
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2024
Subjects:
Bilateral trade
interdependent values
two-stage mechanisms
Economic Theory
Online Access:https://ink.library.smu.edu.sg/soe_research/2378
https://ink.library.smu.edu.sg/context/soe_research/article/3377/viewcontent/Efficient_Bilateral_Trade_July_29_2024_full_version.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/soe_research/2378
https://ink.library.smu.edu.sg/context/soe_research/article/3377/viewcontent/Efficient_Bilateral_Trade_July_29_2024_full_version.pdf

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