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QUESTION

Bargaining outcomes in a market-related situation are in general indeterminate and not obvious to the parties in the negotiation.

Bargaining outcomes in a market-related situation are in general indeterminate and not obvious to the parties in the negotiation. Develop a bargaining situation from which you would conclude that access to market-related information does in fact affect the outcomes. Using specific examples, evaluate the difficulty of accurately eliciting people’s preferences for public goods.

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