Showing 1 - 10 of 6,423
I propose a model of the housing market using a search framework with asymmetric information in which sellers are … advantage in the matching process, incentive compatible listing contracts are implementable as long as housing is not already … posting as a signalling device to direct buyers' search. Adverse selection and inefficient entry on the demand side then …
Persistent link: https://www.econbiz.de/10009490077
We present a dynamic over-the-counter model of the fed funds market, and use it to study the determination of the fed funds rate, the volume of loans traded, and the intraday evolution of the distribution of reserve balances across banks. We also investigate the implications of changes in the...
Persistent link: https://www.econbiz.de/10010227278
We develop a three-stage model of abatement technology search, adoption, and deployment. Using this model, which draws … on search theory tools more frequently used in labour and monetary economics, we compare market-based and command …-and-control pollution control instruments with respect to the incentives each provides for abatement technology search and adoption …
Persistent link: https://www.econbiz.de/10010349873
This paper proposes a screening approach to explain why dating is associated with purchasing status products and conspicuous gift giving. A potential bride searching for a husband may seek to screen candidates whose income is only partially observable. Taking into account that she also bears...
Persistent link: https://www.econbiz.de/10010484412
Experimental studies of search behavior suggest that individuals stop searching earlier than predicted by the optimal … standard search task as well as a lottery task designed to elicit utility functions. We find that search heuristics are not …
Persistent link: https://www.econbiz.de/10003470506
This paper models the dynamic process through which a large society may succeed in building up its social capital by establishing a stable and dense pattern of interaction among its members. In the model, agents interact according to a collection of infinitely repeated Prisoner's Dilemmas played...
Persistent link: https://www.econbiz.de/10011591665
incurring a positive search cost, the agent can consult an expert, whose interest is partially aligned with him. There are … vanishing search cost. The main findings are as follows. First, there are signal structures with which both the agent's payoff …
Persistent link: https://www.econbiz.de/10012104605
increase in the option value of search: with better ability to differentiate offer quality, workers become choosier and … ultimately have better migration experiences. This offers a new perspective on the importance of information and matching …
Persistent link: https://www.econbiz.de/10012795404
are consistent with an increase in the option value of search: with better ability to differentiate offer quality, workers … search longer, select higher-quality intermediaries, and ultimately have better migration experiences. …
Persistent link: https://www.econbiz.de/10013363679
Algorithm-based decision support systems play an increasingly important role in decisions involving exploration tasks, such as product searches, portfolio choices, and human resource procurement. These tasks often involve a trade-off between exploration and exploitation, which can be highly...
Persistent link: https://www.econbiz.de/10013482224