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the efficient matching of workers to firms. This mechanism can be thought of as operated by a recruitment agency, an …
Persistent link: https://www.econbiz.de/10005739652
benefit payments compared to the wage earned in available jobs - labour supply and matching - a theoretical approach to …
Persistent link: https://www.econbiz.de/10008622251
courses and courses have implicit preferences for students. This formulates a many-to-many matching problem. We show the …
Persistent link: https://www.econbiz.de/10011107943
optimal for the seller to do away with any matching considerations and allocate the contract on the basis of price alone. If … matching is sufficiently important to the seller, the optimal mechanism may be implemented without commitment. However, if … matching is not sufficiently important, the seller suffers a loss when he is unable to commit. The magnitude of this loss …
Persistent link: https://www.econbiz.de/10008490104
In many auctions, matching between the bidder and seller raises the value of the contract for both parties. However … depresses bids. The more matching matters, the greater the penalty associated with observing the matches. …
Persistent link: https://www.econbiz.de/10008532170
. We extend the model, allowing for different prior beliefs about the value of the object, arguing that a complementarity … to trade: a matching market with a fixed price or a haggling market. Our model also provides a testable difference …
Persistent link: https://www.econbiz.de/10008472248
This paper presents a new characterization result for competitive allocations in quasilinear economies. This result is informed by the analysis of non-cooperative dynamic search and bargaining games. Such games provide models of decentralized markets with trading frictions. A central objective...
Persistent link: https://www.econbiz.de/10009147692
Numerous economic models employ a continuum of negligible agents with a sequence of idiosyncratic shocks and random matchings. Several attempts have been made to build a rigorous mathematical justification for such models, but these attempts have left many questions unanswered. In this paper, we...
Persistent link: https://www.econbiz.de/10005089343
In the paper, we simulate a heterogeneous-agent version of the wage-posting model as derived by Montgomery (1991) with homogeneous workers and differently-productive employers. Wage policy of particular employer is positively correlated with employer’s productivity level and the wage policy of...
Persistent link: https://www.econbiz.de/10005078644
Many economic models use a continuum of negligible agents to avoid considering one person's effect on aggregate characteristics of the economy. Along with a continuum of agents, these models often incorporate a sequence of independent shocks and random matchings. Despite frequent use of such...
Persistent link: https://www.econbiz.de/10005790280