...return
In the case of agent/link failure, each agent is free to set its own timeouts and assess the quality of the never-received good accordingly. Bids that are not received in time will, of course, not be considered.
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...equal
We could just as easily have said that the price must be strictly greater than the cost.
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...tie
The complete solution would have to consider the probabilities that s ties with 1, 2, 3,...other agents. In order to do this we would need to consider all 39#39 subsets.
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...price
That is, p is an equilibrium price if every seller that can sell at that price (i.e. those whose cost is less than p) does.
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...price
Remember, the sellers are constrained to return a fixed quality. They can only change the price they charge.
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...UMDL
If not by us, then by a profit-conscious third party.
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Jose M. Vidal
jmvidal@umich.edu
Wed Aug 21 07:12:37 EDT 1996