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Efficient partnership formation in networks
Bloch, Francis; Dutta, Bhaskar; Manea, Mihai - In: Theoretical economics : TE ; an open access journal in … 14 (2019) 3, pp. 779-811
We analyze the formation of partnerships in social networks. Players need favors at random times and ask their neighbors in the network to form exclusive long-term partnerships that guarantee reciprocal favor exchange. Refusing to provide a favor results in the automatic removal of the...
Persistent link: https://www.econbiz.de/10012104571
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Efficient Search by Committee
Bergemann, Dirk; Välimäki, Juuso - 2011
This note constructs an efficient mechanism for finding the best candidate for a committee from a sequence of potential candidates. Committee members have independent private values information about the quality of the candidate. The mechanism selects the best candidate according to the standard...
Persistent link: https://www.econbiz.de/10014186581
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Accounting Uniformity, Comparability, and Resource Allocation Efficiency
Corona, Carlos; Huang, Zeqiong; Hwang, Hyun - 2021
elucidate the impact of accounting uniformity on resource allocation efficiency …
Persistent link: https://www.econbiz.de/10013251342
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On the Efficiency of Monetary Exchange : How Divisibility of Money Matters
Berentsen, Aleksander; Rocheteau, Guillaume - 2004
We use alternative assumptions about the divisibility of goods and money and the ability of agents to use lotteries on money to investigate to what extent the indivisibility of money is the cause for the typically inefficient production and consumption decisions in search-theoretic models of...
Persistent link: https://www.econbiz.de/10014120606
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Liquidity Misallocation in an Over-the-Counter Market
Zhang, Shengxing - 2016
To understand the illiquidity of the over-the-counter market when dealers and traders are in long-term relationships, I develop a framework to study the endogenous liquidity distortions resulting from the profit-maximizing, screening behavior of dealers. The dealer offers the trading mechanism...
Persistent link: https://www.econbiz.de/10013002294
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Directed search with phantom vacancies
Albrecht, James W.; Decreuse, Bruno; Vroman, Susan B. - 2020
When vacancies are filled, the ads that were posted are often not withdrawn, creating "phantom" vacancies. The existence of phantoms implies that older job listings are less likely to represent true vacancies than are younger ones. We assume that job seekers direct their search based on the...
Persistent link: https://www.econbiz.de/10012291017
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Directed Search with Phantom Vacancies
Albrecht, James W. - 2020
When vacancies are filled, the ads that were posted are often not withdrawn, creating "phantom" vacancies. The existence of phantoms implies that older job listings are less likely to represent true vacancies than are younger ones. We assume that job seekers direct their search based on the...
Persistent link: https://www.econbiz.de/10012822848
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Holdups and Efficiency with Search Frictions
Acemoglu, Daron; Shimer, Robert - 2003
benchmark, we show that efficiency is achieved when firms post wages and workers can direct their search towards more attractive … offers. This efficiency result generalizes to an environment with imperfect information where workers only observe a few of … the equilibrium wage offers. We show that the underlying reason for efficiency is not wage posting per se, but the ability …
Persistent link: https://www.econbiz.de/10014208497
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On the Efficiency of Stable Matchings in Large Markets
Lee, SangMok - 2014
transfers. We study the wedge between stability and efficiency in large one-to-one matching markets. We show stable matchings … objective even on efficiency grounds, and monetary transfers are not necessary for efficiency purposes. Nonetheless, for …
Persistent link: https://www.econbiz.de/10013051143
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Efficient search by committee
Bergemann, Dirk; Välimäki, Juuso - 2011
This note constructs an efficient mechanism for finding the best candidate for a committee from a sequence of potential candidates. Committee members have independent private values information about the quality of the candidate. The mechanism selects the best candidate according to the standard...
Persistent link: https://www.econbiz.de/10008826738