We study different trading processes in the context of a search-based model of endogenous money. We incorporate heterogeneity into the model by allowing multiple meetings of agents and divisible production. We then determine the equilibrium using three different trading mechanisms: auctions,...

We consider a sequential decision to adopt/not adopt a technology in a herding environment with costly observation. The novelty compared to the previous models on herding with costly observation, such as Kultti and Miettinen (2006a), is that the agents do not know how many other agents have been...

We show that in quasisupermodular games that satisfy strict single crossing property the least and greatest undominated Nash-equilibrium can be reached by iteratively eliminating dominated strategies. In the first round all weakly dominated strategies are eliminated. In the successive rounds all...

Two types of agents want to pair. They meet randomly, and if each is acceptable to each other pairing takes place. One type's tastes are uniform over the other type while the other type's tastes are not. We assume nontransferable utility and study whether the outcome is more efficient when the...