Equilibrium Partner Switching in a Bargaining Model With Asymmetric Information
研究一个卖方与两个潜在买方逐期议价的模型，发现转换成本决定卖方能否利用第二个买方，零成本或乐观预期下才会发生转换。
We study a model in which the seller of an indivisible object faces two potential buyers and makes an offer to either of them in each period. We find that the seller's ability to extract surplus from them depends crucially on the value of the cost of switching from one buyer to the next. If the seller is pessimistic about the buyers' valuations and there is a switching cost, however small, then the market is a natural bilateral monopoly; the second buyer is never called on. If the switching cost is zero, or if the seller is optimistic, then switching, and possibly recall of the original buyer, may occur.