Showing 1 - 10 of 15
been an important factor in this decline. Our claim is based on a structural search-matching model, the times series of job …
Persistent link: https://www.econbiz.de/10005125761
We examine a simple bargaining setting, where heterogeneous buyers and sellers are repeatedly matched with each other. We begin by characterizing efficiency in such a dynamic setting, and discuss how it differs from efficiency in a centralized static setting. We then study the allocations which...
Persistent link: https://www.econbiz.de/10005062338
through search of the neighborhoods of these randomly met nodes. We show that this model exhibits the full spectrum of …. Besides offering a close fit of these diverse networks, the model allows us to impute the relative importance of search versus … random attachment in link formation. We find that the fitted ratio of random meetings to search-based meetings varies …
Persistent link: https://www.econbiz.de/10005062339
We study search behavior in a generalized "secretary problem" environment in which consumers search sequentially for … make no distributional assumptions about the quality of the alternatives. Rather, at each stage of the search the consumers …. Our study departs from previous experimental investigations of the secretary problem by including search costs and …
Persistent link: https://www.econbiz.de/10005408222
We study an equilibrium sequential search model where buyers have potentially downward-sloping demand and with … bilateral heterogeneity in buyers' search costs and firms' production costs. We show that downward- sloping demand and … distribution of search costs is 'uniform-like'. It follows that the set of equilibrium price distributions is nonempty and has a …
Persistent link: https://www.econbiz.de/10005550870
, the buyer can choose to leave the negotiation table to search for other alternatives. Under one version, if the buyer … chooses to search for a better price, the opportunity to purchase the good at the stated price is gone. Under the second … version, the seller guarantees the same price if the buyer chooses to return immediately after a search (presumably because a …
Persistent link: https://www.econbiz.de/10005556687
focuses on the search for partners and the formation and break-up of teams. Under no restrictions, there is too much searching …
Persistent link: https://www.econbiz.de/10005556754
We analyze the endogenous appearance of money substitutes, their interaction with outside money, and resulting distortions in the price system of an economy with large monopolies and wide-spread informal networks. The economy consists of productive, individually optimizing agents and less...
Persistent link: https://www.econbiz.de/10005561089
of costly search to discover prices. We ask whether such equilibria can be learnt when sellers adjust prices adaptively …
Persistent link: https://www.econbiz.de/10005118556
This paper reconsiders return-volume dependence for the U.S. and six international equity markets. We contribute to previous work by proposing surprise volume as a new proxy for private information flow and apply extreme value theory in studying dependence for large volume and return, i.e. under...
Persistent link: https://www.econbiz.de/10005134862