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Double-Holdups in a Matching Model with Search Frictions and Endogenous Heterogeneity

Navarro, Lucas - Econometric Society - 2004

random matching model with endogenous heterogeneity. I analyze the efficiency properties of the equilibrium and find that in …

Persistent link: https://www.econbiz.de/10005328902

Matching and Price Competition

Levin, Jonathan; Bulow, Jeremy - Econometric Society - 2004

We develop a model in which firms set their salary levels before matching with workers. Wages fall relative to any … recent antitrust case against the National Residency Matching Program in light of our results …

Persistent link: https://www.econbiz.de/10005328996

A Theoretical Foundation for Bilateral Matching Mechanisms

Aliprantis, C.D.; Camera, G. - Econometric Society - 2004

This work introduces a rigorous set-theoretic foundation of bilateral matching mechanisms and studies their properties … in a systematic manner. By providing a unified framework to study ilateral matching mechanisms, we formalize how … different spatial/informational constraints can be implemented via a careful selection of matching mechanisms. In particular …

Persistent link: https://www.econbiz.de/10005063736

Group Size and Social Ties in Microfinance Institutions

Abbink, Klaus; Irlenbusch, Bernd - Econometric Society - 2004

Microfinance programmes provide poor people with small loans given to jointly liable self-selected groups. Follow-up loans provide incentives to repay. In an experiment we investigate the influence of those features on strategic default. Each group member invests in an individual risky project,...

Persistent link: https://www.econbiz.de/10005342371

A Collective Model of Household Behavior with Private and Public Goods: Theory and Evidence from US Data

Donni, Olivier - Econometric Society - 2004

In this paper, we adopt the collective approach to consumer behavior --- which supposes that each household member is characterized by his/her own preferences and the decision process results in Pareto-efficient outcomes --- and assume, in addition, that agents are egoistic and consumption is...

Persistent link: https://www.econbiz.de/10005699621

Unraveling of Dynamic Sorting

Damiano, Ettore; Li, Hao - Econometric Society - 2004

We consider a two-sided, finite-horizon search and matching model with heterogeneous types and complementarity between … the market. When search is costless and all agents participate in each matching round, the market performs a sorting …

Persistent link: https://www.econbiz.de/10005328853

Efficient Delegation by an Informed Principal

Gresik, Thomas A.; Bond, Eric W. - Econometric Society - 2004

Consider the case of a firm with private valuation information bargaining with a supplier over the price and quantity of a good. If the firm and the supplier bargain directly, the bargaining outcome may not yield a first-best outcome due to the presence of information rents. The question we...

Persistent link: https://www.econbiz.de/10005328937

Liquidity Premia in Dynamic Bargaining Markets

duffie - Econometric Society - 2004

This paper develops a search-theoretic model of the cross-sectional distribution of asset returns. It abstracts from risk premia and focuses exclusively on liquidity. A float-adjusted return model (FARM) is derived, explaining the pricing of liquidity with a simple linear formula: In...

Persistent link: https://www.econbiz.de/10005328954

Search and Endogenous Concentration of Liquidity in Asset Markets

dvayanos - Econometric Society - 2004

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, but can decide which one. We show that there exist a...

Persistent link: https://www.econbiz.de/10005329007

Complexity and Efficiency in Repeated Games with Negotiation

Sabourian, Hamid; Lee, Jihong - Econometric Society - 2004

This paper considers the "negotiation game" (Busch and Wen, 1995) which combines the features of two-person alternating offers bargaining and repeated games. Despite the forces of bargaining, the negotiation game in general admits a large number of equilibria some of which involve delay in...

Persistent link: https://www.econbiz.de/10005342231