We investigate a canonical search-theoretic model without entry. Two agents are randomly matched with a long side being …

This chapter surveys the literature on the microstructure of housing markets. It considers one-sided search, random … matching, and directed search models. It also examines the bargaining that takes place once a match has occurred, with the … bargaining taking various forms, including two-party negotiations of different types and multiparty housing auctions. The chapter …

Housing markets clear, in part, through the time that buyers and sellers spend on the market. We show that demand … the elasticity of the matching function. …

A dynamic equilibrium model of an economy with underground trade is developed in which agents devote effort to search …

proportion of low search cost consumers increases. …

economic models of sequential collection of costly information have focused on price-search. It is argued that this is a very … specialized type of search. This has led such models to focus on the issue of when search should stop. The article attempts to … show how the principles of sequential search can be applied to other types of problems, such as innovation, where the …

This paper presents a search model of centralized and decentralized trade. In a centralized market, trades are … intermediated by market makers at publicly posted bid-ask prices. In a decentralized market, traders search counterparties. Prices …