The revolution in information availability and the advances in novel interaction technologies
have ushered in two major shifts that call into question the traditional assumptions of buyer …

We study patterns of behavior in bilateral bargaining situations using a rich new data set
describing back-and-forth sequential bargaining occurring in over 25 million listings from …

Who bears the consequences of administrative problems in health care? We use data on
repeated interactions between a large sample of US physicians and many different insurers …

In markets where buyers and suppliers negotiate, supplier costs, buyer willingness to pay,
and competition determine only a range of potential prices, leaving the final price dependent …

This study empirically quantifies the efficiency of a real-world bargaining game with two-
sided incomplete information. Myerson and Satterthwaite (1983) and Williams (1987) …

Using data on hospitals' purchases across a large number of important product categories,
we find that access to information on purchasing by peer hospitals leads to reductions in the …

Negotiations today are less likely to be characterized by information asymmetry—the notion
that buyers are less informed than sellers—due to the amount of information available to …

In many markets, consumers visit stores and physically inspect products before making
purchase decisions. We view the inspection of a product at a retail location as a search for …

In many markets consumers have imperfect information about the utility they derive from the
products that are on offer and need to visit stores to find the product that is the most …

Economic theory assumes accurate price information to be readily available in markets. In
real markets, however, actual price information can be private and confidential, forcing …