Similar Search Results

Premuneration Values and Investments in Matching Markets

Mailath, George; Postlewaite, Andrew; Samuelson, Larry - Department of Economics, University of Pennsylvania - 2012

surplus in the absence of interagent transfers. Most of the work in the large bargaining-and matching literature ignores this …

Persistent link: https://www.econbiz.de/10010822874

"Pricing and Investments in Matching Markets",Second Version

Mailath, George J.; Postlewaite, Andrew; Samuelson, Larry - Department of Economics, University of Pennsylvania - 2010

make investments before matching in a competitive market. We introduce the notion of premuneration values---the values to …

Persistent link: https://www.econbiz.de/10008751337

Premuneration Values and Investments in Matching Markets

Mailath, George J.; Postlewaite, Andrew; Samuelson, Larry - Department of Economics, University of Pennsylvania - 2013

We analyze a model in which agents make investments and then match into pairs to create a surplus. The agents can make transfers to reallocate their pretransfer ownership claims on the surplus. Mailath, Postlewaite, and Samuelson (2013) showed that when investments are unobservable, equilibrium...

Persistent link: https://www.econbiz.de/10010700277

Pricing in Matching Markets

Mailath, George J.; Postlewaite, Andrew; Samuelson, Larry - Department of Economics, University of Pennsylvania - 2010

Different markets are cleared by different types of prices---a universal price for all buyers and sellers in some markets, seller-specific prices that are uniform across buyers in others, and personalized prices tailored to both the buyer and the seller in yet others. We introduce the notion of...

Persistent link: https://www.econbiz.de/10008456313

Attributes

Klabjan, Diego; Olszewski, Wojciech; Wolinsky, Asher - In: Games and Economic Behavior 88 (2014) C, pp. 190-206

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

Search, Money and Capital: A Neoclassical Dichotomy, Second Version

Aruoba, S. Boragan; Wright, Randall - Department of Economics, University of Pennsylvania - 2002

Recent work has reduced the gap between search-based monetary theory and mainstream macroeconomics by incorporating … into the search model some centralized markets as well as some decentralized markets where money is essential. This paper … nests the search-theoretic monetary model and a standard neoclassical growth model as special cases. Perhaps surprisingly …

Persistent link: https://www.econbiz.de/10005102114

Strategic Firms and Endogenous Consumer Emulation

Kircher, Philipp; Postlewaite, Andrew - Department of Economics, University of Pennsylvania - 2008

strategically. Consumers search for high quality firms and condition their choices on observed actions of other consumers. When they …

Persistent link: https://www.econbiz.de/10005061909

Inflation and Welfare in Models with Trading Frictions

Rocheteau, Guillaume; Wright, Randall - Department of Economics, University of Pennsylvania - 2003

We study the effects of inflation in models with various trading frictions. The framework is related to recent search …

Persistent link: https://www.econbiz.de/10005061927

Crime, Inequality, and Unemployment, Second Version

Burdett, Kenneth; Lagos, Ricardo; Wright, Randall - Department of Economics, University of Pennsylvania - 2002

There is much discussion of the relationships between crime, inequality, and unemployment. We construct a model where all three are endogenous. We find that introducing crime into otherwise standard models of labor markets has several interesting implications. For example, it can lead to wage...

Persistent link: https://www.econbiz.de/10005126677

Alternative Theories of Wage Dispersion

Gaumont, Damien; Schindler, Martin; Wright, Randall - Department of Economics, University of Pennsylvania - 2005

. We begin assuming workers are ex ante heterogeneous, and highlight a flaw with this approach: if search is costly, the … search costs, and delivers equilibria equilibrium wage dispersion. However, we prove the law of two prices holds: generically …

Persistent link: https://www.econbiz.de/10005126691