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The Strategic Impact of Pace in Double Auction Bargaining

Gjerstad, Steven - Econometric Society - 2004

This paper evaluates performance of human subjects and instances of a bidding model that interact in continuous-time double auction experiments. Asks submitted by instances of the seller model ("automated sellers") maximize the seller's expected surplus relative to a heuristic belief function,...

Persistent link: https://www.econbiz.de/10005063604

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

Duopolistic Competition between Independent and Collaborative Business-to-Business Marketplaces

Suelzle, Kai - Econometric Society - 2004

-to-business matching market with indirect network externalities. The intermediaries differ with regard to their ownership structure: an …

Persistent link: https://www.econbiz.de/10005342163

Search for Multiple Equilibria in Urban Industrial Structure

Weinstein, David E.; Davis, Donald R. - Econometric Society - 2004

Theories of multiple equilibria (ME) are now widespread across many fields of economics. Yet little empirical work has asked if such multiple equilibria are salient features of real economies. We examine this in the context of the Allied bombing of Japanese cities and industries in WWII in data...

Persistent link: https://www.econbiz.de/10005329001

Investment, Externalities & Industry Dynamics.

Roy, Santanu; Kamihigashi, Takashi - Econometric Society - 2004

stay & the nature of industry environment (prices, externalities) over their period of stay in the industry. Heterogeneity …

Persistent link: https://www.econbiz.de/10005130186

Liquidity, Default and Crashes: Endogenous Contracts in General Equilibrium

Geanakoplos, John - Econometric Society - 2004

Introducing default and limited collateral into general equilibrium allows for a theoery of endogenous contracts, ..

Persistent link: https://www.econbiz.de/10005342221

Indivisible Goods and Fiat Money

Rivera, Jorge; Florig, Michael - Econometric Society - 2004

In spite of fiat money is useless in a standard Arrow-Debreu model, in this paper we will show that this does not hold true anymore when goods are indivisible. In our setting, although fiat money yields no utility, its price will always be positive and the set of equilibrium allocations changes...

Persistent link: https://www.econbiz.de/10005699608

Policy effectiveness

Mandler, Michael - Econometric Society - 2004

Does the Pareto criterion discriminate among policy choices when the policymaker does not know the correct model of the economy? If the policymaker can specify ex ante preferences for each agent, there will typically be some policy change that improves the welfare of each agent relative to a...

Persistent link: https://www.econbiz.de/10005702668