Selling procedures, intermediation, and bargaining

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Project objective

Research objectives and content The objective of my research is that of contributing to the theory of the socalled market micro-structures", with particular attention to the selling and bargaining procedures. The information aspects of exchange have received great space in the literature, even if one limits the scope of this statement to goods markets and excludes instead financial markets. One of the points that I plan to develop further is the role of intermediaries in common trading situations. A second point is the analysis of communication strategies adopted specially, but not only, by sellers. The first problem (intermediation) is, in my opinion, particularly relevant in markets for durable goods, and for estates, so thatan analysis of intermediation should recognize that some specific role for it should be related to problems encountered in the sale of durables. As for communication strategies, I think that the way in which prices are advertised, the rules for price discounts (like those for frequent purchases) disclosed and modified, and so on, play an important functionin determining the market outcomes. These points are well recognized in the literature on Industrial Organization, and my plan is that of applying I.O. style models to explain some features of the communication procedures that seem puzzLing at first sight (for instance, why some shops post their prices and other shops do not?) Training content (objective, benefit and expected impact) The Economics Department of Alicante 'University is composed by a number of renown researchers in the fields of Game Theory and I.O. I therefore esteem that, given also the young age of the University of Alicante and the following excitment about research surrounding the place, my research program can greatly benefit from local interaction."

Original text from CORDIS.

Participants

• UNIVERSITY OF ALICANTE · ALICANTECoordinatorSpain
• Not availableCity levelItaly

Links

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