and bargain under private information. Two bargaining protocols are considered: take-it-or-leave-it offering and the … double auction. There are frictions due to costly search and time discounting, parameterized by a single number t > 0 … the fastest possible rate O(t) among all bargaining mechanisms. For the double auction mechanism, we find that there are …

Steady state equilibria in heterogeneous agent matching models with search frictions have been shown to exist in Shimer … and Smith (2000) under the assumption of a quadratic search technology. We extend their analysis to the commonly … investigated linear search technology. …

assortments. Consumers face a search problem within an assortment of horizontally differentiated products supplied by a monopolist …. They may search for a product match by drawing products from the assortment or by seeking word of mouth recommendations …

). This class of games includes a simple random-proposer TIOLI game, but also many other interesting bargaining games. A … market equilibria converge to the Walrasian limit, at the fastest possible rate Omicron (tau) among all bargaining mechanisms …. Some important bargaining games not in this class may have non-convergent market equilibria. This is the case for the k …

We investigate a canonical search-theoretic model without entry. Two agents are randomly matched with a long side being … partnership subject to a small probability of exogenous break down. As this probability and friction vanish, the Nash bargaining …

We present a theory of targeted search, where people with a finite information processing capacity search for a match … resides in between the random matching and the directed search outcomes. The equilibrium that emerges from this middle ground … and the directed search literature as limiting cases. …

surplus in the absence of interagent transfers. Most of the work in the large bargaining-and matching literature ignores this …