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Durlauf, Steven N.; Seshadri, Ananth - In: Economic Theory 21 (2003) 2, pp. 475-493

This paper develops some general conditions under which complementarities between individual agents imply that assortative matching is efficient. Our analysis has four main findings. First, when agents are organized into equal-sized groups, just as in Becker (1973), the presence of within-group...

Persistent link: https://www.econbiz.de/10005370771

Endogenous spillovers and incentives to innovate

Gersbach, Hans; Schmutzler, Armin - In: Economic Theory 21 (2003) 1, pp. 59-79

We present a new approach to endogenizing technological spillovers. Firms choose levels of a cost-reducing innovation from a continuum before they engage in competition for each other's R&D-employees. Successful bids for the competitor's employee then result in higher levels of cost reduction....

Persistent link: https://www.econbiz.de/10005370970

Niche products, generic products, and consumer search

Larson, Nathan - In: Economic Theory 52 (2013) 2, pp. 793-832

We endogenize product design in a model of sequential search with random firm-consumer match value à la Wolinsky (Quart … offer more nichy products, this induces more intense search; depending on search costs, this could raise or lower consumers …

Persistent link: https://www.econbiz.de/10010993564

Variability is beneficial in marked stopping problems

Lippman, Steven; Ross, Sheldon - In: Economic Theory 35 (2008) 2, pp. 333-342

Persistent link: https://www.econbiz.de/10005370737

The distribution of money and prices in an equilibrium with lotteries

Berentsen, Aleksander; Camera, Gabriele; Waller, Christopher - In: Economic Theory 24 (2004) 4, pp. 887-906

do so by considering randomized monetary trades in a standard search-theoretic model of money where agents can hold …

Persistent link: https://www.econbiz.de/10005370807

Liquidity and Liquidation

Kelly, David; LeRoy, Stephen - In: Economic Theory 31 (2007) 3, pp. 553-572

Persistent link: https://www.econbiz.de/10005370880

Distributional aspects of the divisibility of money: an example

Camera, Gabriele - In: Economic Theory 25 (2005) 2, pp. 487-495

I highlight the importance of the distributional aspects of money’s divisibility by comparing a search-theoretic model …

Persistent link: https://www.econbiz.de/10005371144

Consumer search markets with costly revisits

Janssen, Maarten; Parakhonyak, Alexei - In: Economic Theory 55 (2014) 2, pp. 481-514

This paper characterizes equilibrium outcomes in consumer search markets taking the cost of going back to stores … already searched explicitly into account. We show that the optimal sequential search rule under costly revisits is very … prices. We explore the implications of costly revisits on market equilibrium in two celebrated search models. In the Wolinsky …

Persistent link: https://www.econbiz.de/10010845604

Equilibrium valuation of illiquid assets

Krainer, John; LeRoy, Stephen F. - In: Economic Theory 19 (2002) 2, pp. 223-242

We develop an equilibrium model of illiquid asset valuation based on search and matching. We propose several measures … of illiquidity and show how these measures behave. We also show that the equilibrium amount of search may be less than …, equal to or greater than the amount of search that is socially optimal. Finally, we show that excess returns on illiquid …

Persistent link: https://www.econbiz.de/10005753338

Currency restrictions, government transaction policies and currency exchange

Waller, Christopher J.; Curtis, Elisabeth S. - In: Economic Theory 21 (2003) 1, pp. 19-42

country, divisible good, search model. We show that these policies can generate equilibria where both currencies circulate as …

Persistent link: https://www.econbiz.de/10005753375