Public vs. Private Offers in the Market for Lemons
研究在关联价值讨价还价中，出价是否公开对交易结果的影响。公开出价易导致僵局，而私下出价总能达成协议，尽管有延迟。
We study the role of observability in bargaining with correlated values. Short-run buyers sequentially submit offers to one seller. When previous offers are observable, bargaining is likely to end up in an impasse. In contrast, when offers are hidden, agreement is always reached, although with delay. Copyright 2009 The Econometric Society.