Cornell University

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Joint Econometrics Workshop and Industrial Organization Workshop: Brad Larsen

Wednesday, October 13, 2021 at 11:15am to 12:45pm

ILR Conference Center, 423

Brad Larsen, Stanford University

How Well Does Bargaining Work in Consumer Markets?  A Robust Bounds Approach (joint with Joachim Freyberger)

Abstract: 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 impasse in 43\% of negotiations even when the buyer values the good more than the seller.

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Event Type

Seminar, Class/ Workshop

Departments

Economics

Tags

economics, EconSeminar, EconMetrics

Contact E-Mail

uab1@cornell.edu

Contact Name

Ulrike Kroeller

Contact Phone

6072554254

Speaker

Brad Larsen

Speaker Affiliation

Stanford University

Open To

Cornell Economics Commnity (List Service Mambers)