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In a general model of trading networks with bilateral contracts, we propose a suitably adapted chain stability concept that plays the same role as pairwise stability in two-sided settings. We show that chain stability is equivalent to stability if all agents' preferences are jointly fully...
Persistent link: https://www.econbiz.de/10012415626
Many economic models incorporate finiteness assumptions that, while introduced for simplicity, play a real role in the analysis. We provide a principled framework for scaling results from such models by removing these finiteness assumptions. Our sufficient conditions are on the theorem statement...
Persistent link: https://www.econbiz.de/10015415274
This paper introduces a maximum likelihood estimator of the value of job amenities and labor productivity in a single matching market based on the observation of equilibrium matches and wages. The estimation procedure simultaneously fits both the matching patterns and the wage curve. While our...
Persistent link: https://www.econbiz.de/10012807745
We analyze marital matching on income using an extremely rich Dutch data set containing all income tax files over four years. We develop a novel methodology that directly extends previous contributions to allow for highly flexible matching patterns. Investigating all marriages that took place...
Persistent link: https://www.econbiz.de/10013259553