Cheap Talk, Round Numbers, and the Economics of Negotiation
---- Acknowledgments ----
We thank Panle Jia Barwick, Willie Fuchs, Brett Green, and Greg Lewis for helpful discussions, and many seminar participants for helpful comments. We are grateful to Chad Syverson for sharing data on real estate transactions in the State of Illinois. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. eBay Inc has provided the data that is the basis of this study.
---- Disclosure of Financial Relationships for Matthew Backus ----
Matt Backus is a paid consultant for eBay Inc.