Results

  • Sellers should adjust their offer according to the Buyer's distribution
  • No Chat condition:

Results

  • Sellers should adjust their offer according to the Buyer's distribution
  • No Chat condition:

Results

  • Sellers should adjust their offer according to the Buyer's distribution
  • No Chat condition:

Results

  • Sellers should adjust their offer according to the Buyer's distribution
  • No Chat condition:

Results

  • Sellers should adjust their offer according to the Buyer's distribution
  • No Chat condition:

Results

  • Sellers should adjust their offer according to the Buyer's distribution
  • No Chat condition:

Results

  • We should expect efficiency gains from the delegation mechanism                                                 
  • Chat should generate more efficient outcomes for take-it-or-leave-it but not for delegation

Results

  • We should expect efficiency gains from the delegation mechanism                                                 
  • Chat should generate more efficient outcomes for take-it-or-leave-it but not for delegation

Results

  • We should expect efficiency gains from the delegation mechanism                                                 
  • Chat should generate more efficient outcomes for take-it-or-leave-it but not for delegation

Results

  • We should expect efficiency gains from the delegation mechanism                                                 
  • Chat should generate more efficient outcomes for take-it-or-leave-it but not for delegation

Meaningful efficiency

gains through delegation

Results

  • We should expect efficiency gains from the delegation mechanism                                                 
  • Chat should generate more efficient outcomes for take-it-or-leave-it but not for delegation

Meaningful efficiency

gains through delegation

Meaningful efficiency

gains through chat

Results

  • We should expect efficiency gains from the delegation mechanism                                                 
  • Chat should generate more efficient outcomes for take-it-or-leave-it but not for delegation

Meaningful efficiency

gains through delegation

Meaningful efficiency

gains through chat

Limited efficiency

gains through chat

Delegation reduces

inefficient accepted offers

What types of inefficiency occur?

Delegation reduces

inefficient accepted offers

Delegation reduces

inefficient accepted offers

Seller extracting more

Buyer extracting more

Results

  • How often do trades breakdown?                                                    
  • No Chat condition:

27% failure

23% failure

Results

  • How often do trades breakdown?                                                    
  • No Chat condition:

16% failure

19% failure