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Why do some incomplete information markets feature intermediaries while others do not? I study the allocation of two goods in an incomplete information setting with a single principal, multiple agents with unit demand, and interdependent valuations. I construct a novel dynamic mechanism...
Persistent link: https://www.econbiz.de/10014418049
This paper develops a model of pricing and advertising in a matching environment with capacity constrained sellers … advertising level, and market structure. The relationship results from a trade off between a price effect and a market structure-matching …
Persistent link: https://www.econbiz.de/10014027442
the efficient matching of workers to firms. This mechanism can be thought of as operated by a recruitment agency, an …
Persistent link: https://www.econbiz.de/10010366528
Evidence suggests that participants in direct student-proposing deferred-acceptance mechanisms (DA) play dominated strategies. To explain the data, we introduce expectation-based loss aversion into a school-choice setting and characterize choice-acclimating personal equilibria in DA. We find...
Persistent link: https://www.econbiz.de/10012698801
Matching markets can be unstable when individuals prefer to be matched to a partner who also wants to be matched with … preferences exist, significantly decrease stability in matching markets, and are driven both by belief-based and preference …
Persistent link: https://www.econbiz.de/10014476792
paper, we introduce and formalize reciprocal preferences, apply them to matching markets, and analyze the implications for … acceptance mechanism can achieve stability. These results provide insights into non-standard preferences in matching markets, and …
Persistent link: https://www.econbiz.de/10014478421
Persistent link: https://www.econbiz.de/10005155755
always true, and many well-known mechanisms are simple, including ascending auctions, posted prices, and serial dictatorship …
Persistent link: https://www.econbiz.de/10012584083
I introduce a stability notion, dynamic stability, for two-sided dynamic matching markets where (i) matching … opportunities arrive over time, (ii) matching is one-to-one, and (iii) matching is irreversible. The definition addresses two … allowed to form blocking pairs. Second, dynamic matching markets exhibit a form of externality that is not present in static …
Persistent link: https://www.econbiz.de/10013273775
the Gale-Shapley Deferred Acceptance (DA) mechanism versus the Iterative Deferred Acceptance Mechanism (IDAM), a matching …
Persistent link: https://www.econbiz.de/10011574107