Similar Search Results

"Pricing and Investments in Matching Markets",Second Version

Mailath, George J.; Postlewaite, Andrew; Samuelson, Larry - Department of Economics, University of Pennsylvania - 2010

make investments before matching in a competitive market. We introduce the notion of premuneration values---the values to …

Persistent link: https://www.econbiz.de/10008751337

Premuneration Values and Investments in Matching Markets

Mailath, George J.; Postlewaite, Andrew; Samuelson, Larry - Department of Economics, University of Pennsylvania - 2013

We analyze a model in which agents make investments and then match into pairs to create a surplus. The agents can make transfers to reallocate their pretransfer ownership claims on the surplus. Mailath, Postlewaite, and Samuelson (2013) showed that when investments are unobservable, equilibrium...

Persistent link: https://www.econbiz.de/10010700277

Premuneration Values and Investments in Matching Markets

Mailath, George; Postlewaite, Andrew; Samuelson, Larry - Department of Economics, University of Pennsylvania - 2012

surplus in the absence of interagent transfers. Most of the work in the large bargaining-and matching literature ignores this …

Persistent link: https://www.econbiz.de/10010822874

Pricing in Matching Markets

Mailath, George J.; Postlewaite, Andrew; Samuelson, Larry - Department of Economics, University of Pennsylvania - 2010

Different markets are cleared by different types of prices---a universal price for all buyers and sellers in some markets, seller-specific prices that are uniform across buyers in others, and personalized prices tailored to both the buyer and the seller in yet others. We introduce the notion of...

Persistent link: https://www.econbiz.de/10008456313

Directed Search with Multiple Job Applications

Galenianos, Manolis; Kircher, Philipp - Department of Economics, University of Pennsylvania - 2005

We develop an equilibrium directed search model of the labor market where workers can simultaneously apply for multiple jobs. The main result is that all equilibria exhibit wage dispersion despite the fact that workers and firms are homogeneous. Wage dispersion is driven by the simultaneity of...

Persistent link: https://www.econbiz.de/10005102100

Competitive Bargaining Equilibrium

Dávila, Julio; Eeckhout, Jan - Department of Economics, University of Pennsylvania - 2004

We propose a simple bargaining procedure, the equilibrium of which converges to the Walrasian allocation as the agents … not price-takers. Moreover, where in other bargaining protocols the final outcome depends on bargaining power or relative … important implications for policy applications compared to standard bargaining rules. …

Persistent link: https://www.econbiz.de/10005126704

Efficient Learning, Job Turnover and Wage Dispersion

Li, Fei - Department of Economics, University of Pennsylvania - 2011

This paper studies the aggregate consequences of individual learning in the labor market. Specifically, I examine this issue in a model of directed search on the job. Once matched, a firm-worker pair gradually learns the match-specific quality, taking the history of realized production as...

Persistent link: https://www.econbiz.de/10009366838

Directed Search over the Life Cycle

Menzio, Guido; Telyukova, Irina A.; Visschers, Ludo - Department of Economics, University of Pennsylvania - 2012

We develop a life-cycle model of the labor market in which different worker-firm matches have different quality and the assignment of the right workers to the right firms is time consuming because of search and learning frictions. The rate at which workers move between unemployment, employment...

Persistent link: https://www.econbiz.de/10009391467

Directed Search and Job Rotation

Li, Fei; Tian, Can - Department of Economics, University of Pennsylvania - 2012

We consider the impact of job rotation in a directed search model in which firm sizes are endogenously determined and match quality is initially unknown. A large firm benefits from the opportunity of rotating workers so as to partially overcome loss of mismatch. As a result, in the unique...

Persistent link: https://www.econbiz.de/10010822887

Efficient Learning and Job Turnover in the Labor Market

Li, Fei - Department of Economics, University of Pennsylvania - 2013

This paper studies the dynamics of workers. on-the-job search behavior and its consequences in an equilibrium labor market. In a model with both directed search and learning about the match quality of firm-worker pairs, I highlight the job search target effect of learning: as a worker updates...

Persistent link: https://www.econbiz.de/10010822914