Equal split in the informal market for group train travel.

Waichman, Israel, Requate, Till and Korzhenevych, A. (2013) Equal split in the informal market for group train travel. Economics Letters, 118 (2). pp. 327-329. DOI 10.1016/j.econlet.2012.10.013.

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Abstract

In this paper, we make use of a unique dataset collected at the central train station of the city of Kiel, Germany. Group tickets are used by individual proposers looking for co-travelers to share the ride with shortly before the train departure. The shared ride is offered for a fixed price. We observe that the prevailing price offer corresponds to an equal split of the ticket cost between the maximum possible number of co-travelers. This result is remarkable, because the positions of the bargaining parties are clearly asymmetric and formation of the full group is not guaranteed.

Document Type: Article
Additional Information: Times Cited: 0 Waichman, Israel Requate, Till Korzhenevych, Artem
Keywords: Natural experiment, Bargaining, Focal point, Equal split
Research affiliation: Kiel University > Kiel Marine Science
OceanRep > The Future Ocean - Cluster of Excellence
Kiel University
Refereed: Yes
Open Access Journal?: No
DOI etc.: 10.1016/j.econlet.2012.10.013
ISSN: 0165-1765
Projects: Future Ocean
Date Deposited: 08 Jul 2014 09:59
Last Modified: 19 Aug 2019 11:05
URI: http://oceanrep.geomar.de/id/eprint/25250

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