Buyer Commitment in Bilateral Bargaining: The Case of Online Japanese C2C Market
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摘要
This paper builds and estimates a structural dynamic bargaining model with buyer search and limited commitment using transaction- and text-level data from Mercari, documenting frequent post-agreement nonpurchase and systematic verbal pledges of immediate payment that increase acceptance and reduce walkaways; counterfactuals that eliminate search during bargaining (full commitment) raise seller continuation values and list prices but reduce overall welfare and platform revenue, with heterogeneous effects largest for high-valuation sellers and buyers [page::0][page::2][page::24]
