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Efficiency in a matching model with heterogeneous agents : too many good or bad jobs?
Blázquez, Maite; Jansen, Marcel - 2003
This paper analyses the efficiency of the equilibrium allocation in a matching model with two types of workers and jobs …
Persistent link: https://www.econbiz.de/10010272689
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When inefficiency begets efficiency
Gersbach, Hans; Haller, Hans - 2003
Collective consumption decisions taken by the members of a household may prove inefficient. The impact of such inefficient household decisions on market performance is investigated. At one extreme, market efficiency can occur even when household decisions are inefficient, namely when household...
Persistent link: https://www.econbiz.de/10010292768
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Auctions under Payoff Uncertainty: The Case with Heterogeneous Bidder-Aversion to Downside Risk
Hu, Audrey; Zou, Liang - 2008
This paper characterizes the optimal first-price auction (FPA) and second-price auction (SPA) for selling rights, contracts, or licenses that involve ensuing payoff uncertainty for the winning bidder. The distribution of the random payoff is common knowledge, except that bidders have private...
Persistent link: https://www.econbiz.de/10010325804
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Accounting for China's growth
Brandt, Loren; Zhu, Xiaodong - 2010
role of rising rates of investment. Because labor reallocation across sectors, TFP growth at the sector level and … investment are all inter-related, simple growth decompositions that are often used in the literature are not appropriate for … continues to absorb more than half of all fixed investment. If capital had been allocated efficiently, China could have achieved …
Persistent link: https://www.econbiz.de/10010269571
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Effects of Tax Depreciation Rules on Firms' Investment Decisions: A Comparison of European Transition Countries
Nam, Chang Woon; Radulescu, Doina Maria - In: CESifo DICE Report 01 (2003) 2, pp. 52-55
Persistent link: https://www.econbiz.de/10011696432
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Small numbers matching markets: Unstable and inefficient due to over-competition?
Otto, Philipp E.; Bolle, Friedel - 2009
The extant literature on matching markets assumes ordinal preferences for matches, while bargaining within matches is …
Persistent link: https://www.econbiz.de/10010302565
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Stabile Allokationen und Matching-Märkte: Zum Nobelpreis für Wirtschaftswissenschaften an Lloyd S. Shapley und Alvin E. Roth
Kübler, Dorothea - In: Wirtschaftsdienst 92 (2012) 12, pp. 843-847
-sided matching markets, such as school choice, labour markets and kidney exchange, relies on both theory as well as on empirical …The Nobel prize in economics in 2012 was awarded to Lloyd S. Shapley and Alvin E. Roth for 'the theory of stable … foundations of the theory of stable allocations (in particular the celebrated deferred-acceptance algorithm) as well as the …
Persistent link: https://www.econbiz.de/10010471332
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Efficiency in a search and matching economy with a competitive informal sector
Charlot, Olivier; Malherbet, Franck; Ulus, Mustafa - 2012
We consider a dual labor market with a frictional formal sector and a competitive informal sector. We show that the size of the informal sector is generally too large compared to the optimal allocation of the workers. It follows that our results give a rationale to informality-reducing policies.
Persistent link: https://www.econbiz.de/10010290000
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Search frictions on product and labor markets: money in the matching function
Lehmann, Etienne; van der Linden, Bruno - 2007
This paper builds a macroeconomic model of equilibrium unemployment in which firms persistently face difficulties in selling their production and this affects their decisions to create jobs. Due to search-frictions on the product market, equilibrium unemployment is a U-shaped function of the...
Persistent link: https://www.econbiz.de/10010277003
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Multiple Equilibria and Minimum Wages in Labor Markets with Informational Frictions and Heterogeneous Production Technologies
van den Berg, Gerard J. - 2003
It is often argued that a mandatory minimum wage is binding only if the wage density displays a spike at it. In this paper we analyze a model with search frictions and heterogeneous production technologies, in which imposition of a minimum wage affects wages even though, after imposition, the...
Persistent link: https://www.econbiz.de/10010261543