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The directed search model (Peters, 1984) is static; its dynamic extensions typically restrict strategies, often assuming price or match commitments. We lift such restrictions to study equilibrium when search can be directed over time, without constraints and at no cost. In equilibrium trade...
Persistent link: https://www.econbiz.de/10011206196
, based on a recursive approach that exploits the monotonicity of matching functions. …
Persistent link: https://www.econbiz.de/10010817426
, based on a recursive approach that exploits the monotonicity of matching functions. …
Persistent link: https://www.econbiz.de/10010608098
We present a model that generates empirically plausible price distributions in directed search equilibrium. There are many identical buyers and many identical capacity-constrained sellers who post prices. These prices can be renegotiated to some degree and the outcome depends on the number of...
Persistent link: https://www.econbiz.de/10013039814
, based on a recursive approach that exploits the monotonicity of matching functions …
Persistent link: https://www.econbiz.de/10013039828
Persistent link: https://www.econbiz.de/10001538403
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
workers distributed between them. We introduce commuting costs and search-matching frictions to deal with the spatial mismatch …
Persistent link: https://www.econbiz.de/10013071292
Persistent link: https://www.econbiz.de/10009783695
Persistent link: https://www.econbiz.de/10010389621