(I’m confident this isn’t incentive-compatible. Consider the case where you happen to exactly know the other person’s bid as an example. I do think it is a good baseline mechanism though. Because it isn’t incentive compatible, both parties need to precommit to no further negotiation if rmax<rmin.)
(I’m confident this isn’t incentive-compatible. Consider the case where you happen to exactly know the other person’s bid as an example. I do think it is a good baseline mechanism though. Because it isn’t incentive compatible, both parties need to precommit to no further negotiation if rmax<rmin.)