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Monopolistic Competition, Optimum Product Diversity, and International Trade - the Role of Factor Endowment and Factor Intensities
Marjit, Sugata; Mandal, Biswajit - 2021
In this paper we revisit the influential theory of monopolistic competition and optimum product variety as developed by …
Persistent link: https://www.econbiz.de/10013215667
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Trade and Imperfect Competition in General Equilibrium
Koska, Onur A.; Stähler, Frank - 2011
This paper employs a general equilibrium model of imperfect competition and trade in which capital is used to establish firms and labor is used for production. We show that two different types of equilibria may exist, one with factor price equalization and one with different factor prices. When...
Persistent link: https://www.econbiz.de/10010277390
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Housing Search Frictions : Evidence from Detailed Search Data and a Field Experiment
Bergman, Peter - 2020
This paper shows that imperfect information about school quality causes low-income families to live in neighborhoods with lower-performing, more segregated schools. We randomized the addition of school quality information onto a nationwide website of housing listings for families with housing...
Persistent link: https://www.econbiz.de/10012841926
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How Wage Announcements Affect Job Search - A Field Experiment
Belot, Michele - 2019
We study how job seekers respond to wage announcements by assigning wages randomly to pairs of otherwise similar vacancies in a large number of professions. High wage vacancies attract more interest, in contrast with much of the evidence based on observational data. Some applicants only show...
Persistent link: https://www.econbiz.de/10012892270
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Optimal Stopping in a Dynamic Salience Model
Dertwinkel-Kalt, Markus - 2020
stopping strategy. Guided by salience theory, we theoretically and experimentally analyze the implications of skewness …, and we verify that salience theory coherently explains skewness preferences revealed in static and dynamic decisions …. Based on these findings we conclude that the static salience model—unlike (static) cumulative prospect theory—can be …
Persistent link: https://www.econbiz.de/10012824830
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Constrained Fixed Sample Search
Bonilla, Roberto - 2019
Persistent link: https://www.econbiz.de/10012866400
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Local Search Markets and External Competition
Legros, Patrick - 2019
Increased competition tends to benefit all buyers with increasing product variety and decreasing prices. However, if local and external market channels compete for the same class of products, increased competition from the external market crowds out local variety. Under local monopoly, local...
Persistent link: https://www.econbiz.de/10012867876
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Inconsistent Time Preferences and On-the-Job Search - When it Pays to Be Naive
Fahn, Matthias - 2019
We study optimal employment contracts for present-biased employees who can conduct on-the-job search. Presuming that firms cannot offer long-term contracts, we find that individuals who are naive about their present bias will actually be better off than sophisticated or time-consistent...
Persistent link: https://www.econbiz.de/10012871758
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On the Foundations of Competitive Search Equilibrium with and Without Market Makers
Albrecht, James; Cai, Xiaoming; Gautier, Pieter; … - 2021
The literature offers two foundations for competitive search equilibrium, a Nash approach and a market-maker approach. When each buyer visits only one seller (or each worker makes only one job application), the two approaches are equivalent. However, when each buyer visits multiple sellers, this...
Persistent link: https://www.econbiz.de/10013220133
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Search, Screening and Sorting
Cai, Xiaoming; Gautier, Pieter; Wolthoff, Ronald P. - 2021
We investigate the effect of search frictions on labor market sorting by constructing a model which is in line with recent evidence that employers collect a pool of applicants before interviewing a subset of them. In this environment, we derive the necessary and sufficient conditions for sorting...
Persistent link: https://www.econbiz.de/10013221175