Yes, if it is known that you accept whatever they tell you before setting your fair price then you will probably get bad information and make deals that are bad for you.
For any given credence distribution you might have for their true utility, there are corresponding rejection functions that both disincentivize their offering unfair deals and get you high utility.
Yes, if it is known that you accept whatever they tell you before setting your fair price then you will probably get bad information and make deals that are bad for you.
For any given credence distribution you might have for their true utility, there are corresponding rejection functions that both disincentivize their offering unfair deals and get you high utility.