Createspace Independent Publishing Platform
The Effect of Offer Verifiability on the Relationship Between Auctions and Multilateral Negotiations
$17.47
Createspace Independent Publishing Platform
A Comparison of Auctions and Multilateral Negotiations
Product Code:
9781502365460
ISBN13:
9781502365460
Condition:
New
$20.06
A Comparison of Auctions and Multilateral Negotiations
$20.06
We compare the well-known first-price auction with a common but previously unexamined exchange process that we term "multilateral negotiations." In multilateral negotiations, a buyer solicits price offers for a homogeneous product from sellers with heterogeneous costs, and then plays the sellers off one another to obtain additional price concessions. Using experimental methods, we find that transaction prices are statistically indistinguishable in the two institutions with a sufficiently large number of sellers, but that prices are higher in multilateral negotiations than in first-price auctions as the number of sellers decreases. With fewer sellers, the institutions are equally efficient, but with more sellers, there is some evidence that multilateral negotiations are slightly more efficient.
| Author: Federal Trade Commission |
| Publisher: Createspace Independent Publishing Platform |
| Publication Date: Sep 14, 2014 |
| Number of Pages: 42 pages |
| Binding: Paperback or Softback |
| ISBN-10: 1502365464 |
| ISBN-13: 9781502365460 |
Related Products
Sale 2%
Independently Published
Negotiate Like an Auctioneer: Mastering the Art of Persuasion and Control
$12.33
Kluwer Law International
The New GATT Round of Multilateral Trade Negotiations: Legal and Economic Problems
$575.85