Seminar GATE LSE "Experimental Evidence on Multilateral Blind Bargaining"

Seminar GATE LSE "Experimental Evidence on Multilateral Blind Bargaining"

Seminar GATE Lyon Saint-Etienne "Experimental Evidence on Multilateral Blind Bargaining"
▶️ Tuesday, September 27, 10h30-11h45
▶️ Speaker : Margherita Comola, University Paris-Saclay
▶️ Title : Experimental...

Seminar GATE Lyon Saint-Etienne "Experimental Evidence on Multilateral Blind Bargaining"

▶️ Tuesday, September 27, 10h30-11h45
▶️ Speaker : Margherita Comola, University Paris-Saclay
▶️ Title : Experimental Evidence on Multilateral Blind Bargaining


▶️ Abstract : 
🔹 We conduct a laboratory experiment to study a decentralized market where players engage in multiple simultaneous trading games.
🔹 We implement different trading protocols which allow players to keep all information about their evaluations and bids private, and revise their bids if they wish so.
🔹 We show that protocols allowing for bargaining dramatically improve efficiency with respect to the benchmark scenario of a sealed-bid multilateral blind auction, mainly to the benefit of players rather than the silent auctioneer.
🔹 This is because participants seek to reveal information through a gradual bidding-up strategy that favors bargaining environments.
🔹 Aggregate efficiency nonetheless suffers from the fact that participants raise their bids gradually, buyers bargain harder than sellers, and some players over-bargain to appropriate a larger share of the unknown surplus.

More information :
ℹ  www.gate.cnrs.fr

ℹ  https://se2.univ-st-etienne.fr
ℹ  se2 @ univ-st-etienne.fr