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This paper studies a decentralized, dynamic matching and bargaining market: buyers and sellers are matched into pairs … static results of the decentralized trading outcome with respect to the level of the search frictions. -- Dynamic Matching …
Persistent link: https://www.econbiz.de/10003730623
buyer and a single seller is embedded into a matching market with a continuum of traders. I consider steady-state equilibria …
Persistent link: https://www.econbiz.de/10012940429
recipients to senders, who know message content. Price signals can also facilitate decentralized two-sided matching. In certain …
Persistent link: https://www.econbiz.de/10010195139
presence of matching frictions, which create a trade-off for low quality sellers between successfully mimicking high quality … sellers and an increased matching probability if they truthfully reveal their type. The experimental results reflect the …
Persistent link: https://www.econbiz.de/10012969275
This paper shows that a transaction tax makes trades in decentralized markets more information sensitive and enlarges the range of information costs for which the equilibrium exhibits private information acquisition and endogenous adverse selection. A transaction tax reduces the probability of...
Persistent link: https://www.econbiz.de/10013259519
We study non-stationary dynamic decentralized markets with adverse selection in which trade is bilateral and prices are determined by bargaining. Examples include labor markets, housing markets, and markets for financial assets. We characterize equilibrium, and identify the dynamics of...
Persistent link: https://www.econbiz.de/10011672004
Persistent link: https://www.econbiz.de/10011504686
We introduce a simple model of dynamic matching in networked markets, where agents arrive and depart stochastically …, and the composition of the trade network depends endogenously on the matching algorithm. Varying the timing properties of … matching algorithms can substantially affect their performance, and this depends crucially on the information structure. More …
Persistent link: https://www.econbiz.de/10012905017
Persistent link: https://www.econbiz.de/10003649852
Persistent link: https://www.econbiz.de/10009687504