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This paper shows that all perfect Bayesian equilibria of a dynamic matching game with two-sided incomplete information … private information. Agents engage in costly search and meet randomly. The terms of trade are determined through bilateral ….e., as discounting and the fixed cost of search become small, all equilibria of the market game converge to perfectly …
Persistent link: https://www.econbiz.de/10010266300
Weitzman's search model requires that, conditional on stopping, the agent only takes boxes which have already been … common in the search and information acquisition literature, boxes are inspected following the same order as inWeitzman …
Persistent link: https://www.econbiz.de/10010352859
We study the steady state of a market with incoming cohorts of buyers and sellers who are matched pairwise and bargain under private information. We first consider generalized random-proposer take-it-or-leave-it offer games (GRP TIOLI games). This class of games includes a simple random-proposer...
Persistent link: https://www.econbiz.de/10010266316
In a two-sided search market agents are paired to bargain over a unit surplus. The matching market serves as an …
Persistent link: https://www.econbiz.de/10010282941
A decision maker (DM) considers the acquisition of a multi-attribute object with uncertain qualities which can be discovered at a cost. DM's problem is to decide how much to invest in the discovery and whether to adopt or discard based on partial information. We characterize the solution in some...
Persistent link: https://www.econbiz.de/10011117130
paper, we introduce and formalize reciprocal preferences, apply them to matching markets, and analyze the implications for … acceptance mechanism can achieve stability. These results provide insights into non-standard preferences in matching markets, and …
Persistent link: https://www.econbiz.de/10014467722
Matching markets can be unstable when individuals prefer to be matched to a partner who also wants to be matched with … preferences exist, significantly decrease stability in matching markets, and are driven both by belief-based and preference …
Persistent link: https://www.econbiz.de/10014467870
make investments before matching in a competitive market. We introduce the notion of premuneration values -- the values to …
Persistent link: https://www.econbiz.de/10013122231
We analyze data pricing and targeted advertising. Advertisers seek to tailor their spending to the value of each consumer. A monopolistic data provider sells cookies -- informative signals about individual consumers' preferences. We characterize the set of consumers targeted by the advertisers...
Persistent link: https://www.econbiz.de/10013073446
We propose a model of data provision and data pricing. A single data provider controls a large database that contains information about the match value between individual consumers and individual firms (advertisers). Advertisers seek to tailor their spending to the individual match value. The...
Persistent link: https://www.econbiz.de/10013047747