Extracting Interaction-Created Surplus
Extracting Interaction-Created Surplus
复制标题
提取互动创造的剩余
DOI:
10.1006/game.1999.0713
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发表时间:
2000
期刊:
影响因子:
--
通讯作者:
R. Spiegler
中科院分区:
文献类型:
--
作者:
R. Spiegler
Abstract This paper demonstrates that the economic surplus which agents produce in bilateral interactions is extractable by an outside party having sufficient initial resources. The third party achieves this outcome using a class of “exclusive-interaction” contracts. A basic extractability result is shown to be robust to several extensions: competition among outside parties, multiplicity of interacting agents, and a dynamic extension with repeated opportunities to interact. Finally, some connections with the economic intermediation literature are drawn. Journal of Economic Literature Classification Number: C79