Showing 1 - 10 of 411
We investigate a canonical search-theoretic model without entry. Two agents are randomly matched with a long side being …
Persistent link: https://www.econbiz.de/10010678871
We study equilibria of dynamic over-the-counter markets in which agents are distinguished by their preferences and information. Over time, agents are privately informed by bids and offers. Investors differ with respect to information quality, including initial information precision, and also in...
Persistent link: https://www.econbiz.de/10011042991
We study the efficiency of liquidity provision by dealers and the desirability of policy intervention in over-the-counter (OTC) markets during crises. We emphasizes two OTC frictions: finding counterparties takes time, and trade is bilateral and involves bargaining. We model a crisis as a shock...
Persistent link: https://www.econbiz.de/10011042999
the extent of multiplicity hinges on the frequency of search. Holding fixed the average number of meetings over time, we … vary search frequency by altering the interval between search opportunities. To isolate the role of search frequency, we …, strategies, and dynamic paths consistent with equilibrium. Indexed by these features, as search frequency increases the set of …
Persistent link: https://www.econbiz.de/10010594318
search, and type changes induced by matching. Under independence assumptions at each randomization step, we show that there …This paper provides a mathematical foundation for independent random matching of a large population, as widely used in … the economics literature. We consider both static and dynamic systems with random mutation, partial matching arising from …
Persistent link: https://www.econbiz.de/10010572389
from the firm having the vacant position, the less likely it is that the candidate is chosen. The search may also involve … foundations of the search process are presented. An empirical application to a board interlock network demonstrates that the model …
Persistent link: https://www.econbiz.de/10012503069
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/10014476792
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/10014478421
We study the existence of pure strategy Nash equilibria in finite congestion and coordination games. Player set is divided into two disjoint groups, called men and women. A man choosing an action a is better off if the number of other men choosing a decreases, or if the number of women choosing...
Persistent link: https://www.econbiz.de/10012502982
The paper surveys the experimental literature on matching markets. It covers house allocation, school choice, and two …-sided matching markets such as college admissions. The main focus of the survey is on truth-telling and strategic manipulations by … the agents, on the stability and efficiency of the matching outcome, as well as on the distribution of utility. …
Persistent link: https://www.econbiz.de/10012033568