No trade and yes trade theorems for heterogeneous priors
نویسندگان
چکیده
منابع مشابه
No trade
We investigate a common value bilateral bargaining model with two sided private information and no aggregate uncertainty. A seller owns an asset whose common valuation is a deterministic function of the two tradersprivate signals. We rst establish a no-trade theorem for this environment, and proceed to study the e¤ect of the asset valuation structure and the trading mechanism on extent to whi...
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 2019
ISSN: 0022-0531
DOI: 10.1016/j.jet.2019.04.006