We compare the most common methods for selling a company or other asset when
participation is costly: a simple simultaneous auction, and a sequential process in which …

Loan rates for seemingly identical borrowers often exhibit substantial dispersion. This paper
investigates the determinants of the dispersion in interest rates on loans granted by banks to …

We determine the equilibrium in two transaction mechanisms: auctions and posted prices.
Agents choose whether to participate in markets where trades are consummated by auctions …

Although negotiating over prices with sellers is common in many markets such as
automobiles, furniture, services, consumer electronics, etc., it is not clear how a haggling …

We study the performance of the English auction under different assumptions about the
seller's degree of “Bayesian sophistication.” We define the effectiveness of an auction as the …

We offer a theoretical and empirical comparison of auctions and negotiated sales. We first
build a simple model to show that auctions generate a higher relative price than negotiated …

This paper studies the channel strategies for a hotel considering alternative online
distribution channels. The decision for the hotel involves whether to rely on direct booking …

Retailers routinely allow consumers to negotiate a discount off the posted price for big-ticket
items such as home appliances and automobiles, and on online platforms such as Amazon …

This paper considers equilibrium in transaction mechanisms. In an environment with
homogeneous buyers and sellers, which eliminates the advantage auctions possess of …

Although take-it-or-leave-it pricing is the main mode of operation for many retailers, a
number of retailers discreetly allow price negotiation when some haggle-prone customers …