This paper analyzes monetary exchange in a search model allowing for multilateral matches to be formed, according to a standard urn-ball process. We consider three physical environments: indivisible goods and money, divisible goods and indivisible money, and divisible goods and money. We compare...

There is a positive and significant correlation of many traits, such as age, religion, socioeconomic status, and education, among spouses. Becker (1973) shows that positive assortative matching – which results in a perfect correlation of traits in spouses – is optimal if the traits...