Dynamic market for lemons with endogenous quality choice by the seller

DOI10.1016/J.GEB.2014.01.011MaRDI QIDQ2442832zbMATH OpenOpenAlexFDO

Authors Keiichi Kawai

Publication date 1 April 2014

Published in Games and Economic Behavior (Search for Journal in Brave)

Full work available at URL https://mpra.ub.uni-muenchen.de/29688/1/MPRA_paper_29688.pdf

zbMATH Keywords

adverse selectionbargainingdelaymoral hazard

Mathematics Subject Classification ID

Signaling and communication in game theory (91A28) Microeconomic theory (price theory and economic markets) (91B24) Economics of information (91B44)

Recommendations

• Waiting for news in the market for lemons
• A scent of lemon -- seller meets buyer with a noisy quality observation
• Trading dynamics with private buyer signals in the market for lemons
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• Information about sellers' past behavior in the market for lemons

Cites work

• Bargaining with common values
• Bargaining with Interdependent Values
• Efficient Sorting in a Dynamic Adverse-Selection Model
• Public vs. Private Offers in the Market for Lemons
• Sequential Bargaining with Correlated Values
• Time-on-the-Market as a Sign of Quality
• Unobservable Investment and the Hold-Up Problem
• Waiting for news in the market for lemons

Cited in

(11)

• Cycles and multiple equilibria in the market for durable lemons
• Multidimensional skin in the game
• Endogenous lemons markets and information cycles
• A scent of lemon -- seller meets buyer with a noisy quality observation
• Search equilibrium with unobservable investment
• Lemons and peaches: multi-stage buying mechanisms with a Devil's Menu
• Waiting for news in the market for lemons
• Nonexclusive competition in the market for lemons
• Public vs. Private Offers in the Market for Lemons
• Trading dynamics with private buyer signals in the market for lemons
• Selling a lemon under demand uncertainty

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