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DTSTART:20170326T010000
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DTSTART;TZID=Europe/Paris:20171004T121500
DTEND;TZID=Europe/Paris:20171004T133000
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SUMMARY:Santiago OLIVEROS (University of Essex) - "Collective Hold-Up" joint work with Matias Iaryczower
DESCRIPTION:\nThe Microeconomics Seminar: Every Wednesday at 12:15 pm.\nTime: 12:15 pm – 1:30 pm\nDate: 04th of October 2017\nPlace: Room 3001.\nSantiago OLIVEROS (University of Essex) – “Collective Hold-Up” joint work with Matias Iaryczower \nAbstract: We consider a dynamic process of coalition formation in which a principal bargains sequentially with a group of agents. We study the effect of shifting proposal power from the principal to the agents. We show that giving proposal power to agents may have efficiency implications\, and can be detrimental to agents’ welfare. The reason for this inefficiency is a collective hold-up problem generated by the fact that agents bargaining later in the process can extract more resources from the principal. This induces delay that destroys surplus and\, under some conditions\, it an also generate breakdown of negotiations. We also provide conditions under which increasing agents’ proposal power only have distributional effects. \nOrganizers:\nMarie-Laure Allain (CREST – École polytechnique)\, Pierre Boyer (CREST – École polytechnique) & Laurent Linnemer (CREST – ENSAE ParisTech)\nSponsors:\nCREST\nLunch registration:\nLink (before 01st of October 2017)\n\n
URL:https://crest.science/event/santiago-oliveros-university-of-essex-tba-joint-work-with-tba/
CATEGORIES:Economics,Microeconomics
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