Mailath, George J.; Postlewaite, Andrew; Samuelson, Larry - In: Theoretical economics : TE ; an open access journal in … 8 (2013) 2, pp. 535-590
make investments before matching in a competitive market. We introduce the notion of premune-ation values—the values to the …-price equilibria depend on premuneration values and in general feature inefficient investments even without coordination failures …. There is thus a trade-off between the costs of personalizing prices and the inefficient investments under uniform prices. We …