Similar Search Results

Monetary Exchange with Multilateral Matching

Julien, Benoit; Kennes, John; King, Ian - Society for Economic Dynamics - SED - 2006

), and Lagos and Wright (2005) respectively. We Â…nd that the multilateral matching setting generates very simple and …

Persistent link: https://www.econbiz.de/10005069230

The College Admissions Problem Under Uncertainty

Chade, Hector; Lewis, Greg; Smith, Lones - Society for Economic Dynamics - SED - 2006

at the time of application, and (iii) matching between colleges and students takes place in a decentralized setting. We … monotone in types, and we construct a robust example to show that this can lead to a failure of assortative matching in … equilibrium. More importantly, we prove that a unique equilibrium with assortive matching exists provided application costs are …

Persistent link: https://www.econbiz.de/10005090730

Guided Search: The Value of a Reputation System

Schiff, Aaron; Kennes, John - Society for Economic Dynamics - SED - 2004

Reputation systems have emerged as important sources of information in modern economies. This paper develops a model of reputation systems that puts buyers and sellers inside a stochastic environment involving asymmetric information and search frictions, and gives them a set of options with...

Persistent link: https://www.econbiz.de/10004970353

Directed search without wage commitment: a new role for minimum wages and unions.

Masters, Adrian - Society for Economic Dynamics - SED - 2005

Persistent link: https://www.econbiz.de/10005069411

Incomplete self-enforcing labor contracts

Menzio, Guido; Moen, Espen - Society for Economic Dynamics - SED - 2006

We consider a model economy populated by risk-neutral firms with multiple vacancies and risk-averse workers. Following the implicit contract literature, we assume that workers have limited access to the intertemporal trade markets. Following the directed search literature, we assume that...

Persistent link: https://www.econbiz.de/10005090738

Divisible money with partially directed search

Goldberg, Dror - Society for Economic Dynamics - SED - 2006

Monetary search models are difficult to analyze unless the distribution of money holdings is made degenerate. Popular techniques include using an infinitely large household (Shi 1997) and adding a centralized market with quasi-linear utility (Lagos and Wright 2005). Wallace (2002) suggests as an...

Persistent link: https://www.econbiz.de/10005090760

The Demand for Currency at Low Interest Rates

Secchi, Alessandro; Lippi, Francesco - Society for Economic Dynamics - SED - 2005

Persistent link: https://www.econbiz.de/10005051389

A Matching Model of the Housing Market: Searching for a Motivated Partner

Albrecht, James; Anderson, Axel - Society for Economic Dynamics - SED - 2004

rewards if they do not transact in the meantime. We characterize the equilibrium steady state matching pattern and compare … this to the constrained efficient matching pattern. We also characterize the joint distribution of price and time to sale …

Persistent link: https://www.econbiz.de/10004970343

Counterfeit $$$

Quercioli, Elena; Smith, Lones - Society for Economic Dynamics - SED - 2006

This paper offers a novel positive theory of counterfeit money, in which the counterfeiters compete against both law enforcement and innocent individuals forced to verify their currency. Law enforcement efforts against counterfeiting can crowd out verification, and thus have perverse...

Persistent link: https://www.econbiz.de/10005069256

The Eeckhout Condition and the Subgame Perfect Implementation of Stable Matching

Suh, Sang-Chul; Wen, Quan - Society for Economic Dynamics - SED - 2006

We investigate an extensive form sequential matching game of perfect information. We show that the subgame perfect … equilibrium of the sequential matching game leads to the unique stable matching when the Eeckhout Condition (2000) for existence … of a unique stable matching holds, regardless of the sequence of agents. This result does not extend to preferences that …

Persistent link: https://www.econbiz.de/10005069297