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Bilateral trading with contingent contracts
Citations
WEB OF SCIENCE
1Citations
SCOPUS
2초록
We study the bilateral trading problem under private information. We characterize the range of possible mechanisms which satisfy ex-post efficiency, incentive compatibility, individual rationality, and budget balance. In particular, we show that the famous Myerson-Satterthwaite impossibility result no longer holds when contingent contracts are allowed.
키워드
Bilateral trading; Contingent contracts; Ex-post efficiency; Linear contracts; Royalty contracts; AUCTIONS; INFORMATION; SECURITIES; PAYMENTS
- 제목
- Bilateral trading with contingent contracts
- 저자
- Yoon, Kiho
- 발행일
- 2020-06
- 유형
- Article
- 권
- 49
- 호
- 2
- 페이지
- 445 ~ 461