Similar Search Results

Breaking the Spell with Credit-Easing : Self-Confirming Credit Crises in Competitive Search Economies

Gaballo, Gaetano - 2016

We show that credit crises can be Self-Confirming Equilibria (SCE), which provides a new rationale for policy interventions like, for example, the FRB's TALF credit-easing program in 2009. We introduce SCE in competitive credit markets with directed search. These markets are efficient when...

Persistent link: https://www.econbiz.de/10012456667

Friends or Foes : The Interrelationship between Angel and Venture Capital Markets

Hellmann, Thomas F. - 2014

This paper develops a theory of how angel and venture capital markets interact. Entrepreneurs first receive angel then venture capital funding. The two investor types are 'friends' in that they rely upon each other's investments. However, they are also 'foes', because at the later stage the...

Persistent link: https://www.econbiz.de/10012458517

Labor Market Search With Imperfect Information and Learning

Conlon, John J. - 2018

We investigate the role of information frictions in the US labor market using a new nationally representative panel dataset on individuals' labor market expectations and realizations. We find that expectations about future job offers are, on average, highly predictive of actual outcomes. Despite...

Persistent link: https://www.econbiz.de/10012480641

Adverse Selection in Competitive Search Equilibrium

Guerrieri, Veronica - 2009

matching, which depends in general on the principals' capacity constraints and market search frictions. We characterize …

Persistent link: https://www.econbiz.de/10012463733

Search Theory of Imperfect Competition with Decreasing Returns to Scale

Menzio, Guido - National Bureau of Economic Research - 2023

I study a version of the search-theoretic model of imperfect competition by Burdett and Judd (1983) in which sellers face a strictly increasing rather than a constant marginal cost of production. The equilibrium exists and is unique, and its structure depends on the extent of search frictions....

Persistent link: https://www.econbiz.de/10014250191

You Can Lead a Horse to Water : Spatial Learning and Path Dependence in Consumer Search

Hodgson, Charles; Lewis, Gregory - National Bureau of Economic Research - 2023

We develop and estimate a model of consumer search with spatial learning. Consumers make inferences from previously searched objects to unsearched objects that are nearby in attribute space, generating path dependence in search sequences. The estimated model rationalizes patterns in data on...

Persistent link: https://www.econbiz.de/10014372454

Theory-Driven Entrepreneurial Search

Chavda, Ankur; Gans, Joshua; Stern, Scott - National Bureau of Economic Research - 2024

How should theory-based entrepreneurs search for strategies to implement their ideas? The theory-based view of strategy posits that decision-makers hold theories about their environment premised on beliefs that should be actively tested. This causal framework, which underlies the theory-based...

Persistent link: https://www.econbiz.de/10014528358

Markups : A Search-Theoretic Perspective

Menzio, Guido - National Bureau of Economic Research - 2024

I derive a formula for the equilibrium distribution of markups in the search- theoretic model of imperfect competition of Butters (1977), Varian (1980), and Burdett and Judd (1983). The level of markups and the sign of the relationship between a seller's markup and its size depends on the extent...

Persistent link: https://www.econbiz.de/10015056214

Marriage Market Equilibrium

Pollak, Robert A. - 2016

market equilibrium is the Gale-Shapley matching model, not the Koopmans-Beckmann assignment model. These models have …

Persistent link: https://www.econbiz.de/10012456366

Mismatch, Sorting and Wage Dynamics

Lise, Jeremy - 2013

We develop an empirical search-matching model which is suitable for analyzing the wage, employment and welfare impact … wage determination and employment which extends the current literature on equilibrium wage determination with matching and … of assortative matching between workers and jobs due to complementarities between worker and job characteristics. We use …

Persistent link: https://www.econbiz.de/10012459942

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