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A Repeated Game Heterogeneous-Agent Wage-Posting Model
Steinbacher, Matej; Steinbacher, Matjaz; Steinbacher, Mitja - Volkswirtschaftliche Fakultät, … - 2009
In the paper, we simulate a heterogeneous-agent version of the wage-posting model as derived by Montgomery (1991) with homogeneous workers and differently-productive employers. Wage policy of particular employer is positively correlated with employer’s productivity level and the wage policy of...
Persistent link: https://www.econbiz.de/10005078644
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Trading mechanism selection with budget constraints
Selcuk, Cemil - Volkswirtschaftliche Fakultät, … - 2011
We present an equilibrium search model of competing mechanisms where some buyers are budget constrained. Absent budget constraints, the existing literature capitulates that if buyers differ in their valuations then in the unique equilibrium all sellers hold second price auctions (e.g. McAfee...
Persistent link: https://www.econbiz.de/10009647209
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Some Inquiries to Spontaneous Opinions: A case with Twitter in Indonesia
Maulana, Ardian; Situngkir, Hokky - Volkswirtschaftliche Fakultät, … - 2010
The paper discusses opportunities to utilize the series of micro-blogs as provided by the Twitter in observation of opinion dynamics. The spontaneity of tweets is more, as the service is attached more to the mobile communications. The extraction of information in the series of tweets is...
Persistent link: https://www.econbiz.de/10008695068
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Sweet Talk: A Theory of Persuasion
Di Maggio, Marco - Volkswirtschaftliche Fakultät, … - 2009
to trade: a matching market with a fixed price or a haggling market. Our model also provides a testable difference …
Persistent link: https://www.econbiz.de/10008472248
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A Theory of Continuum Economies with Independent Shocks and Matchings
Karavaev, Andrei - Volkswirtschaftliche Fakultät, … - 2008
Numerous economic models employ a continuum of negligible agents with a sequence of idiosyncratic shocks and random matchings. Several attempts have been made to build a rigorous mathematical justification for such models, but these attempts have left many questions unanswered. In this paper, we...
Persistent link: https://www.econbiz.de/10005089343
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The role of trading frictions in real asset markets
Gavazza, Alessandro - Volkswirtschaftliche Fakultät, … - 2010
This paper investigates how trading frictions vary with the thickness of the asset market by examining patterns of asset allocations and prices in commercial aircraft markets. The empirical analysis indicates that assets with a thinner market are less liquid—i.e., more difficult to sell. Thus,...
Persistent link: https://www.econbiz.de/10008685561
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A Theory of Continuum Economies with Idiosyncratic Shocks and Random Matchings
Karavaev, Andrei - Volkswirtschaftliche Fakultät, … - 2008
Many economic models use a continuum of negligible agents to avoid considering one person's effect on aggregate characteristics of the economy. Along with a continuum of agents, these models often incorporate a sequence of independent shocks and random matchings. Despite frequent use of such...
Persistent link: https://www.econbiz.de/10005790280
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Divorce costs and marital dissolution in a one-to-one matching framework with nontransferable utilities
Saglam, Ismail - Volkswirtschaftliche Fakultät, … - 2011
In this paper, we use a two-period one-to-one matching model with incomplete information to examine the effect of … whether to stay married or to unilaterally divorce. We show that for any society, there exist matching environments where the … probability of the marital dissolution is not decreasing in divorce costs under a gender-optimal matching rule. In such …
Persistent link: https://www.econbiz.de/10009323647
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Information collection in bargaining
Li, Ming - Volkswirtschaftliche Fakultät, … - 2002
I analyze a bilateral bargaining model with one-sided uncertainty about time preferences. The uninformed player has the option of halting the bargaining process to obtain additional information, when it is his turn to offer. For a wide class of preference settings, the uninformed player does not...
Persistent link: https://www.econbiz.de/10005836458
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A Simple Bargaining Mechanism That Elicits Truthful Reservation Prices
Brams, Steven J.; Kaplan, Todd R; Kilgour, D. Marc - Volkswirtschaftliche Fakultät, … - 2011
We describe a simple 2-stage mechanism that induces two bargainers to be truthful in reporting their reservation prices in a 1st stage. If these prices criss-cross, the referee reports that they overlap, and the bargainers proceed to make offers in a 2nd stage. The average of the 2nd-stage...
Persistent link: https://www.econbiz.de/10008839490