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Keyword: renegotiation;
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Eric Maskin and John Moore
The paper characterises the choice rules that can be implemented when agents are unable to commit themselves not to renegotiate the mechanism....Read more...
December 1998
Luca Anderlini and Leonardo Felli
We identify the inefficiencies that arise when negotiation between two parties takes place in the presence of transaction costs. First, for some values of these costs it is efficient to reach an agreement but the unique ...Read more...
October 1998