the matching-function approach) that are common in search-based models of financial markets, monetary theory, and labor … mutation, random matching with match-induced type changes, and with the potential for enduring partnerships that may have …

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 … search, and type changes induced by matching. Under independence assumptions at each randomization step, we show that there …