. For this class, we characterize the welfare properties of competitive equilibria and compare them to that of a planning …-value utility subject to resource constraints. The competitive equilibrium results in strictly higher welfare than does the planning … tax rates on capital. These tax rates reproduce the central planning solution, and thus imply a worse outcome in welfare …

investment and income, reduce inequality, and increase aggregate welfare relative to the free market outcome. They may also be …

of a coarse matching scheme consisting of two classes of agents on each side, in terms of matching surplus (output), the … intermediary's revenue, and the agents' welfare (defined by the total surplus minus payments to the intermediary). In a nutshell …, our philosophy is that, if the worst-case scenario under coarse matching is not too bad relative to what is achievable by …

characteristics that the analyst does not observe. The social optimum must therefore trade off matching on incomes and matching on … set of feasible matchings and of the socially optimal matching. Then we show how data on the covariation of the types of …

generated through bilateral matching of agents spanning a spectrum of types. Domestic matching is perfect – every trader knows … the type of all others and can approach any, but international matching is random – every trader lacks the information to … choose a partner’s type. Group ties, however, allow perfect matching abroad to a minority of individuals who have access to …

particular, this Paper shows that when matching is assortative and sellers’ investments precede market competition then …

finding, we describe a model of multi-trait matching and inheritance, in which individuals’ attractiveness in the marriage …