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This paper studies simultaneous multilateral search (SMS) in over-the-counter (OTC) markets: when searching, an investor contacts several potential counterparties and then trades with the one offering the best quote. Search intensity (how frequently one can search) and search capacity (how many...
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This paper proves that the Mortensen-Pissarides matching theory is nothing but a tautology. They started with an …
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This paper exploits the informational value of search theory, after Lancaster and Chesher (1983), in conjunction with …
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