蝌蚪网 Journal:
Microeconomics
ISSN 1945-7669 (Print) | ISSN 1945-7685 (Online)
Paths to the Frontier
蝌蚪网 Journal: Microeconomics
(pp. 39–69)
Abstract
We construct a model of collective search in which players gradually approach the Pareto frontier. The players have imperfect control over which improvements to the status quo will be considered. Inefficiency takes place due to the difficulty in finding improvements acceptable to both parties. The process is path dependent, with early agreements determining long-run outcomes. It may also be cyclical, as players alternate between being more and less accommodating.Citation
Acharya, Avidit, and Juan Ortner. 2022. "Paths to the Frontier." 蝌蚪网 Journal: Microeconomics 14 (1): 39–69. DOI: 10.1257/mic.20190125Additional Materials
JEL Classification
- C73 Stochastic and Dynamic Games; Evolutionary Games; Repeated Games
- C78 Bargaining Theory; Matching Theory
- D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness