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This paper shows that all perfect Bayesian equilibria of a dynamic matching game with two-sided incomplete information …
Persistent link: https://www.econbiz.de/10014052931
This paper shows that all perfect Bayesian equilibria of a dynamic matching game with two-sided incomplete information … whole economy where all markets are open. -- Matching and Bargaining ; Search ; Foundations for Perfect Competition ; Two …
Persistent link: https://www.econbiz.de/10008688508
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/10012732787
This paper shows that all perfect Bayesian equilibria of a dynamic matching game with two-sided incomplete information … competitive equilibria. -- Matching and bargaining ; search ; foundations for perfect competition ; two-sided incomplete …
Persistent link: https://www.econbiz.de/10003781441
We prove existence of steady-state equilibrium in a class of matching models with search frictions. …
Persistent link: https://www.econbiz.de/10010499806
This paper analyzes a decentralized search and matching economy comprised of heterogeneous agents. The paper looks at a … perfect assortative matching is the unique equilibrium in the limit economy as search frictions disappear …
Persistent link: https://www.econbiz.de/10012732786
In this paper, I analyze a decentralized search and matching economy with transferable utility comprised of … heterogeneous agents. I explore whether Becker's assortative matching result generalizes to an economy where agents engage in costly … joint production function) lead to assortative matching. This is in contrast to previous literature, which had shown that in …
Persistent link: https://www.econbiz.de/10012779244
The housing rental market offers a unique laboratory for studying price stickiness. This paper is motivated by two facts: 1. Tenants' rents are remarkably sticky even though regular and expected recontracting would, by itself, suggest substantial rent flexibility. 2. Rent stickiness varies...
Persistent link: https://www.econbiz.de/10012955614
In a two-sided search market agents are paired to bargain over a unit surplus. The matching market serves as an … ; Reputation ; Search ; Dynamic Matching ; War-of-Attrition …
Persistent link: https://www.econbiz.de/10008665719
We introduce a notion of subgames for stochastic timing games and the related notion of subgame-perfect equilibrium in possibly mixed strategies. While a good notion of subgame-perfect equilibrium for continuous-time games is not available in general, we argue that our model is the appropriate...
Persistent link: https://www.econbiz.de/10010406213