Camera, Gabriele; Delacroix, Alain - In: Review of Economic Dynamics 7 (2004) 4, pp. 851-868
We endogenize the trade mechanism in a search economy with many homogenous sellers and many heterogeneous buyers of unobservable type. We study how heterogeneity and the traders' continuation values -- which are endogenous -- influence the sellers' choice of trade mechanism. Sellers trade off...