. In equilibrium fairness matters because of market frictions. But, when these frictions become negligible, the equilibrium …This paper analyzes fairness and bargaining in a dynamic bilateral matching market. Traders from both sides of the … market are pairwise matched to share the gains from trade. The bargaining outcome depends on the traders’ fairness attitudes …

. In equilibrium fairness matters because of market frictions. But, when these frictions become negligible, the equilibrium …This paper analyzes fairness and bargaining in a dynamic bilateral matching market. Traders from both sides of the … market are pairwise matched to share the gains from trade. The bargaining outcome depends on the traders’ fairness attitudes …

specific paths to arise and exploit the information that the consumer learned through search. In some cases, the seller …

buyers regarding those costs. This information asymmetry between sellers and buyers is especially relevant in markets where … such information asymmetry. Our main finding is that informing buyers about marginal costs may harm them by deterring … information sharing. …

offer two-part tariffs consisting of a linear price and lump-sum fee. The equilibrium production is socially efficient as … the linear price of equilibrium two-part tariffs equals to the production marginal cost. Firms thus compete in lump …

equilibrium in which both superior and inferior quality is offered and show that as search frictions vanish, the share of firms … forces them to search longer to find a superior product. We argue that policy interventions that reduce search frictions such … as the standardization of price and package formats may harm welfare. In contrast, reducing the number of naive consumers …

therefore have to spend time to obtain this information. In contrast, sellers typically have a better idea about which rivals … offer the product. Information asymmetry between buyers and sellers on product availability, rather than just prices, has … information asymmetry into a simultaneous search model. Our key finding is that greater product availability may harm buyers by …

In markets with search frictions, consumers can acquire information about goods either through costly search or from … price information. If acquiring price quotes is costly, equilibrium prices are dispersed and the expected price is higher … than the marginal cost of production. This implies that firms retain market power even if price information is disseminated …