We analyze a market where (i) trade proceeds by random and anonymous pairwise meetings with bargaining; (ii) agents are asymmetrically informed about the value of the traded good; and (iii) no new entrants are allowed once the market is open. We show that information revelation and e±ciency never obtain in equilibrium, even as discounting is removed. This holds whether the asymmetry is two-side...

In this paper, a new and general version of Gaussian channel in presence of two-sided state information correlated to the channel input and noise is considered. Determining a general achievable rate for the channel and obtaining the capacity in a non-limiting case, we try to analyze and solve the Gaussian version of the Cover-Chiang theorem -as an open problemmathematically and information-theo...

In the early 2000s, the term ‘two-sided network’ has been coined to describe a form of organizing economic activities related to novel uses of information technology. While it is evident that two-sided networks make use of the novel possibilities of information technologies to organize economic activities, they have not yet been studied from an institutional perspective to shed light on the nat...

This paper investigates how messages that contain only positive information vary in their effectiveness from messages that portray both positive and negative arguments. The authors propose that, in a low price condition, a two-sided message with comparison at the product form level has the ability to simultaneously retain the benefits and overcome the weaknesses of two-sided communication, incr...