Different markets are cleared by different types of prices - seller-specific prices that are uniform across buyers in some markets, and personalized prices tailored to the buyer in others. We examine a setting in which buyers and sellers make investments before matching in a competitive market....

We examine markets in which agents make investments and then match into pairs, creating surpluses that depend on their investments and that can be split between the matched agents. In general, each of the matched agents would ”own" part of the surplus in the absence of interagent transfers....

We analyze a model in which agents make investments and then match into pairs to create a surplus. The agents can make transfers to reallocate their pretransfer ownership claims on the surplus. Mailath, Postlewaite, and Samuelson (2013) showed that when investments are unobservable, equilibrium...

We investigate under which conditions price competition in a market with matching frictions leads to sorting of buyers and sellers. Positive assortative matching obtains only if there is a high enough degree of complementarity between buyer and seller types. The relevant condition is...

We present a general discrete choice framework for analyzing household formation and dissolution decisions in an equilibrium limited-commitment collective framework that allows for marriage both within and across birth cohorts. Using Panel Study of Income Dynamics and American Community Survey...

Different markets are cleared by different types of prices --- a universal price for all buyers and sellers in some markets, seller-specific prices that are uniform across buyers in others, and personalized prices tailored to both the buyer and the seller in yet others. We introduce the notion...

We study models that combine search, monetary exchange, price posting by sellers, and buyers with preferences that differ across random meetings; say, because sellers in different meetings produce different varieties of the same good. We show how these features interact to influence the price...

This paper provides an empirical evaluation of countries’ performance in fighting COVID-19, utilizing a performance index (which we call the Disaster Index) based on four health and economic indicators: deaths per population size, deaths per confirmed cases, and quarterly real GDP and monthly...

Dispersion of money balances among individuals is the basis for a range of policies but it has been abstracted from in monetary theory for tractability reasons. In this paper, we fill in this gap by constructing a tractable search model of money with a non-degenerate distribution of money...

The new coronavirus COVID-19 started in Wuhan, China in November or December of 2019 and spread to the rest of the world in 2020 at varying speed. Some countries responded relatively well, and others responded relatively poorly. Therefore, it is necessary to measure the performance to learn from...