Costs of implementation: Bargaining costs versus allocative efficiency
A mechanism with low direct cost of use may be preferred to alternatives implementing more efficient allocations. We show this experimentally by giving pairs of subjects the option to agree on a single average price for a sequence of trades-in effect pooling several small bargains into a larger one....
| Main Authors: | , |
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| Other Authors: | |
| Format: | Article |
| Language: | English |
| Published: |
Elsevier,
2017-04-06T16:14:20Z.
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| Subjects: | |
| Online Access: | Get fulltext |