Marketplace Institutions Related to the Timing of Transactions: Reply to Priest

In this reply I describe the unraveling of transaction dates in several markets, including the labor market for new lawyers hired by large law firms. This and other markets illustrate that unraveling can occur in markets with competitive prices, that it can result in substantial inefficiencies, and that marketplace institutions play a role in restoring efficiency. All of these contradict the conclusions of Priest.

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Year of publication:	2012
Authors:	Roth, Alvin E.
Published in:	Journal of Labor Economics. - University of Chicago Press. - Vol. 30.2012, 2, p. 479-479
Publisher:	University of Chicago Press

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Extent:	application/pdf text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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