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I study intermediation in networked markets using a stochastic model of multilateral bargaining in which traders compete on different routes through the network. I characterize stationary equilibrium payoffs as the fixed point of a set of intuitive value function equations and study efficiency...
Persistent link: https://www.econbiz.de/10010403606
make investments before matching in a competitive market. We introduce the notion of premune-ation values—the values to the …
Persistent link: https://www.econbiz.de/10011686665
We analyze the effects of taxation in two-sided matching markets where agents have heterogeneous preferences over … potential partners. Our model provides a continuous link between models of matching with and without transfers. Taxes generate …
Persistent link: https://www.econbiz.de/10012232898
unique outcome, the worker-optimal matching. …
Persistent link: https://www.econbiz.de/10011325139
It is known that in two-sided many-to-many matching markets, pair-wise stability is not logically related with the … (weak) core, unlike in many-to-one matching markets (Blair, 1988). In this paper, we seek a theoretical foundation for …-partner matching problem that includes two-sided matching problems as special cases. Under the same preference restriction, we also …
Persistent link: https://www.econbiz.de/10011325144
We embed a two-sided matching market with non-transferable utility, a marriage market, into a random search model. We … matchings for the underlying marriage market. We show that this is the case if and only if there is a unique stable matching …
Persistent link: https://www.econbiz.de/10011390677
The matching of likes is a frequently observed phenomenon. However, for such assortative matching to arise in a search … can generate even perfect assortative matching under weak conditions: supermodularity of the match production function is …
Persistent link: https://www.econbiz.de/10010323818
This paper studies a decentralized, dynamic matching and bargaining market: buyers and sellers are matched into pairs …
Persistent link: https://www.econbiz.de/10010264835
This paper shows that all perfect Bayesian equilibria of a dynamic matching game with two-sided incomplete information …
Persistent link: https://www.econbiz.de/10010266300
Steady state equilibria in heterogeneous agent matching models with search frictions have been shown to exist in Shimer …
Persistent link: https://www.econbiz.de/10010270012