Equal split in the informal market for group train travel

Israel Waichman (), Till Requate () and Artem Korzhenevych ()

Economics Letters, 2013, vol. 118, issue 2, 327-329

Abstract: In this paper, we make use of a unique dataset collected at the central train station of the city of Kiel, Germany. Group tickets are used by individual proposers looking for co-travelers to share the ride with shortly before the train departure. The shared ride is offered for a fixed price. We observe that the prevailing price offer corresponds to an equal split of the ticket cost between the maximum possible number of co-travelers. This result is remarkable, because the positions of the bargaining parties are clearly asymmetric and formation of the full group is not guaranteed.

Keywords: Natural experiment; Bargaining; Focal point; Equal split (search for similar items in EconPapers)
JEL-codes: C78 C93 D74 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:118:y:2013:i:2:p:327-329

DOI: 10.1016/j.econlet.2012.10.013

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