search frictions. We consider a homogeneous population where each agent, in every period, has a choice between specializing … partners. They may be found in a decentralized search market, but search takes time. Merchants set up trading posts where they … merchant's trading post must be discovered through search, producers who are informed of the location of a trading post have …

search. Sellers simultaneously post prices and decide whether or not to incur an exogenous cost to advertise their price … increases in either search or advertising costs are reflected in higher equilibrium prices. To test the predictions regarding … the level and dispersion of prices and advertising intensity, we vary the costs of search and advertising as well as the …

This paper develops a search-theoretic model of the cross-sectional distribution of asset returns. It abstracts from …

In this paper, we develop a search-based model of asset trading. We assume that investors differ in their horizons, and … can invest in two identical assets. The asset markets are partially segmented: investors can search in only one market … ``liquid" market has higher volume and prices, and lower search times for buyers and sellers. The clientele equilibrium …

We study how firm boundaries are affected by the reduction in search costs when business-to-business electronic markets … are adopted. Our paper analyzes a multi-tier industry in which upstream parts suppliers incur procurement search costs … integrates search theory into the hidden-action principal-agent model and characterize the optimal contract, showing that the …

for a really bad school compared to just a bad school. In this paper, we formulate a simple housing search model that …

Recent research shows that observed labor market flows can be explained in search and matching models only by assuming …, in turn, is a central determinant of wages in the Nash bargaining approach. We argue in this paper that on-the-job search …-the-job search in a fully specified, real DSGE model with endogenous labor market flows. There are two types of jobs, good and bad …