This paper analyzes two aspects of the standard sequential consumer search model: (1) the role of the consumer's ex ante information structure on market outcomes and search behavior; and (2) the effect of imperfect recall on market outcomes and search behavior. Simulated equilibria are generated...

Based on the frictional matching framework, the paper provides a theoretical model for the two-sided platform in which the number of participants on both sides of the platform and the source of network externalities are endogenously determined. The platform is shown to exhibit both positive...

We consider a model of Bertrand competition where consumers are uncertain about the qualities and prices of firms' products. Consumers can inspect all products at zero cost. A share of consumers is expectation-based loss averse. For these consumers, a purchase plan, which involves buying...

We study optimal employment contracts for present-biased employees who can conduct on-the-job search. Presuming that firms cannot offer long-term contracts, we find that individuals who are naive about their present bias will actually be better off than sophisticated or time-consistent...

Price comparison websites, where consumers can compare prices at a search cost that is close to zero, have become increasingly common around the world. Using daily information on prices, click-throughs, and the number of retailers for a sample of consumer electronics and durable goods over a...

In a labor market where new jobs cannot start until some time in the future, firms post vacancies in advance when productivity is high, and they post more vacancies but lower wages as the job starting time gets closer. An equilibrium wage distribution with both a continuous component and a mass...

We study optimal employment contracts for present-biased employees who can conduct on-the-job search. Presuming that fims cannot offer long-term contracts, we find that individuals who are naive about their present bias will actually be better off than sophisticated or time-consistent...

We study optimal employment contracts for present-biased employees who can conduct on-the-job search. Presuming that firms cannot offer long-term contracts, we find that individuals who are naive about their present bias will actually be better off than sophisticated or time-consistent...

Organizations are frequently faced with high levels of complexity. While the importance of search for dealing with complex systems is widely acknowledged, how organizations should structure their search processes remains rather unexplored. This paper starts to address a basic question: how much...

We study the interplay between quality provision and consumer search in a search market where firms may design products of inferior quality to promote them to naive consumers who fail to fully understand product characteristics. We derive an equilibrium in which both superior and inferior...