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We prove existence of steady-state equilibrium in a class of matching models with search frictions.
Persistent link: https://www.econbiz.de/10011390707
This paper considers a frictional market where buyers and sellers, with unit demand and supply, search for trading opportunities. The analysis focuses on explicit search frictions, allows for two-sided incomplete information, and puts no restriction on agent heterogeneity. In this context, a...
Persistent link: https://www.econbiz.de/10010273653
). This class of games includes a simple random-proposer TIOLI game, but also many other interesting bargaining games. A … converge to the Walrasian limit, at the fastest possible rate O(t) among all bargaining mechanisms. Some important bargaining …. -- Matching and bargaining ; search ; double auctions ; foundations for perfect competition ; rate of convergence …
Persistent link: https://www.econbiz.de/10003782133
Persistent link: https://www.econbiz.de/10010499806
This paper analyzes fairness and bargaining in a dynamic bilateral matching market. Traders from both sides of the … market are pairwise matched to share the gains from trade. The bargaining outcome depends on the traders’ fairness attitudes … in isolated bilateral bargaining. …
Persistent link: https://www.econbiz.de/10012587476
This paper analyzes fairness and bargaining in a dynamic bilateral matching market. Traders from both sides of the … market are pairwise matched to share the gains from trade. The bargaining outcome depends on the traders’ fairness attitudes … in isolated bilateral bargaining. …
Persistent link: https://www.econbiz.de/10012648091
. Agents engage in costly search and meet randomly. The terms of trade are determined through bilateral bargaining between …
Persistent link: https://www.econbiz.de/10005588293
We prove existence of steady-state equilibrium in a class of matching modelswith search frictions.
Persistent link: https://www.econbiz.de/10011152775
This paper develops a model of pricing and advertising in a matching environment with capacity constrained sellers. Sellers' expenditure on directly informative advertising attracts consumers only probabilistically. Consumers who happen to observe advertisements randomize over the advertised...
Persistent link: https://www.econbiz.de/10014027442
matching, and directed search models. It also examines the bargaining that takes place once a match has occurred, with the … bargaining taking various forms, including two-party negotiations of different types and multiparty housing auctions. The chapter … bargaining process, the nature of competition and entry in the brokerage industry, and the incentive issues that are present. The …
Persistent link: https://www.econbiz.de/10014025302