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Seasonal cycles in the housing market
Selcuk, Cemil - Volkswirtschaftliche Fakultät, … - 2012
The housing market exhibits a puzzling yet repetitive seasonal boom and bust cycle where prices and trade volume rise … in summers and fall in winters. This paper presents a search model that analytically generates the observed deterministic …
Persistent link: https://www.econbiz.de/10009647383
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Seasonal Cycles in the Housing Market
Selcuk, Cemil - Economics Section, Cardiff Business School - 2012
The housing market exhibits a puzzling yet repetitive seasonal boom and bust cycle where prices and trade volume rise … in summers and fall in winters. This paper presents a search model that analytically generates the observed deterministic …
Persistent link: https://www.econbiz.de/10010640982
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Pricing and investments in matching markets
Mailath, George J.; Samuelson, Larry; Postlewaite, Andrew - In: Theoretical Economics 8 (2013) 2
make investments before matching in a competitive market. We introduce the notion of premuneration values—the values to the …
Persistent link: https://www.econbiz.de/10011019204
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A Theory of Targeted Search
Restrepo-Echavarria, Paulina; Cheremukhin, Anton A.; … - Federal Reserve Bank of St. Louis - 2013
resides in between the random matching and the directed search outcomes. The equilibrium that emerges from this middle ground …We present a theory of targeted search, where people with a finite information processing capacity search for a match … is inefficient relative to the constrained Pareto allocation. Our theory encompasses the outcomes of the random matching …
Persistent link: https://www.econbiz.de/10010951612
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On the Segmentation of Markets
Jacquet, Nicolas L.; Tan, Serene - East Asian Bureau of Economic Research (EABER) - 2007
in the presence of search frictions and when utility is non-transferable. We depart from standard matching models where … have the same matching pattern, implying that the value of search to each agent is the same. Although perfect assortative … matching cannot be obtained in equilibrium, the degree of assortativeness is nevertheless greater than in standard models. …
Persistent link: https://www.econbiz.de/10009365066
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"Pricing and Investments in Matching Markets",Second Version
Mailath, George J.; Postlewaite, Andrew; Samuelson, Larry - Department of Economics, University of Pennsylvania - 2010
make investments before matching in a competitive market. We introduce the notion of premuneration values---the values to …
Persistent link: https://www.econbiz.de/10008751337
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Pricing in Matching Markets
Mailath, George J.; Postlewaite, Andrew; Samuelson, Larry - Department of Economics, University of Pennsylvania - 2010
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 of...
Persistent link: https://www.econbiz.de/10008456313
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Premuneration Values and Investments in Matching Markets
Mailath, George J.; Postlewaite, Andrew; Samuelson, Larry - Department of Economics, University of Pennsylvania - 2013
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...
Persistent link: https://www.econbiz.de/10010700277
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On the Segmentation of Markets
Jacquet, Nicolas L.; Tan, Serene - School of Economics, Singapore Management University - 2007
in the presence of search frictions and when utility is non-transferable. We depart from standard matching models where … have the same matching pattern, implying that the value of search to each agent is the same. Although perfect assortative … matching cannot be obtained in equilibrium, the degree of assortativeness is nevertheless greater than in standard models. …
Persistent link: https://www.econbiz.de/10005006774
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A theory of targeted search
Cheremukhin, Anton; Tutino, Antonella; … - Federal Reserve Bank of Dallas - 2014
resides in between the random matching and the directed search outcomes. The equilibrium that emerges from this middle ground …We present a theory of targeted search, where people with a finite information processing capacity search for a match … is inefficient relative to the constrained Pareto allocation. Our theory encompasses the outcomes of the random matching …
Persistent link: https://www.econbiz.de/10010772616