Daniel R. Vincent on Hugo F. Sonnenschein
Daniel Vincent
Chapter 21 in Foundations in Microeconomic Theory, 2008, pp 503-523 from Springer
Abstract:
Abstract “Repeated Signalling Games and Dynamic Trading Relationships” was the first paper I wrote after leaving Princeton and becoming an academic economist. For me, it was a natural successor to the three papers in my thesis, papers which marked me clearly as a student of Hugo Sonnenschein. My thesis treated dynamic trading games where two or three agents attempted to determine a price and time of trade for a single indivisible, durable good. The thesis papers owed a great deal to Hugo’s well-known paper with Robert Wilson and Faruk Gul [2], insofar as they employed a similar model and even used much the same strategy of proof. Indeed, the first paper of my thesis [4] owed its primary significance to the fact that it was able to reverse a famous prediction about durable goods monopoly offered in Gul, Sonnenschein and Wilson [2]. One interpretation of the model in their paper implies that when a bargainer is uncertain solely about the private valuation of her rival, then bargaining will only take a significant time to complete if the technology of making offers requires it. In contrast, I demonstrated that when the uncertainty is over the quality of the good to be traded, often bargaining games had to last a signficant time to ensure trade.
Keywords: Demand Curve; Indifference Curve; High Type; Buyer Behavior; Equilibrium Path (search for similar items in EconPapers)
Date: 2008
References: Add references at CitEc
Citations:
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-540-74057-5_23
Ordering information: This item can be ordered from
http://www.springer.com/9783540740575
DOI: 10.1007/978-3-540-74057-5_23
Access Statistics for this chapter
More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla (sonal.shukla@springer.com) and Springer Nature Abstracting and Indexing (indexing@springernature.com).