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Nos visita Brendan Daley, Johns Hopkins University

El Profesor Daley viene invitado por el Centro de Economía Aplicada  y  el Instituto Milenio para la Investigación en Imperfecciones de Mercado y Políticas Publicas  de Ingeniería Industrial de la Universidad de Chile y dictará la charla: “Bargaining and News”


We study a bargaining model in which a buyer makes frequent offers to a privately informed seller, while gradually learning about the seller’s type from “news.” We show that the buyer’s ability to leverage this information to extract more surplus from the seller is remarkably limited. In fact, the buyer gains nothing from the ability to negotiate a better price despite the fact that a negotiation must take place in equilibrium. During the negotiation, the buyer engages in a form of costly “experimentation” by making offers that are sure to earn her negative payoffs if accepted, but speed up learning and improve her continuation payoff if rejected. We investigate the effects of market power by comparing our results to a setting with competitive buyers. Both efficiency and the seller’s payoff can decrease by introducing competition among buyers.

Esta actividad se llevará a cabo el  miércoles 12 de junio, a las 13:00 horas, Beauchef 851, Piso 4, Santiago.

Más información se encuentra disponible en nuestra página web: http://mipp.cl/es/events_category/seminario/

Confirmar asistencia a obarrera@dii.uchile.cl