Outside Options and the Failure of the Coase Conjecture

被引：39

作者：

Board, Simon ^{[1
]}

Pycia, Marek ^{[1
]}

机构：

[1] Univ Calif Los Angeles, Los Angeles, CA 90095 USA

来源：

AMERICAN ECONOMIC REVIEW | 2014年 / 104卷 / 02期

关键词：

BARGAINING MODEL; MONOPOLY;

D O I：

10.1257/aer.104.2.656

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

A buyer wishes to purchase a good from a seller who chooses a sequence of prices over time. Each period the buyer can also exercise an outside option, abandoning their search or moving on to another seller. We show there is a unique equilibrium in which the seller charges a constant price in every period equal to the monopoly price, contravening the Coase conjecture. We then embed the single-seller model into a search framework and show the result provides a foundation for the usual "no haggling" assumption. (JEL C78, D42, D43, L12, L13)

引用

页码：656 / 671

页数：16