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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...
Persistent link: https://www.econbiz.de/10014047722
This paper studies advertising, price ceilings and taxes in a sequential search model with bilateral heterogeneities in production and search costs. We estimate equilibria using a genetic algorithm (GA) applied to over 100 market scenarios, each differing based on the number of firms, number of...
Persistent link: https://www.econbiz.de/10014218440
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...
Persistent link: https://www.econbiz.de/10013075811
We study a setting where a buyer chooses one of several available options whose values are initially unknown but can be discovered through costly search. Search is sequential, with perfect recall, which implies it is optimal for the buyer to search until the best option encountered so far...
Persistent link: https://www.econbiz.de/10014237759
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...
Persistent link: https://www.econbiz.de/10011994861
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...
Persistent link: https://www.econbiz.de/10011996799
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...
Persistent link: https://www.econbiz.de/10012871758
We analyze an equilibrium search model in a duopoly setting with bilateral heterogeneities in production and search costs in which firms can advertise by announcing price and location. We study existence, stability, and comparative statics in such a setting, compare the market advertising level...
Persistent link: https://www.econbiz.de/10012707079
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...
Persistent link: https://www.econbiz.de/10012825039
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...
Persistent link: https://www.econbiz.de/10013313515