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uncertainty can be resolved but both processes are costly. Intermediaries (recruiters) can perform the job matching but only at … to negotiate by itself. We study the role of an external intermediary who uses a Vickrey auction to discriminate between … lowers the social efficiency of matching if workers choose recruiters randomly. If we allow recruiters to announce their …
Persistent link: https://www.econbiz.de/10005407591
game. Conversely, the set of repeated matching (or social) equilibria also includes some plays that are not part of any … definitions, as well as the relationship to renegotiation-proof equilibrium. It is possible for repeated matching equilibria to be …
Persistent link: https://www.econbiz.de/10005062336
This paper develops a model of pricing and advertising in a matching environment with capacity constrained sellers … advertising level, and market structure. The relationship results from a trade off between a price effect and a market structure-matching …
Persistent link: https://www.econbiz.de/10005076903
The belief that equality of demand and supply determines price and clears the market is universal. Shockingly, this belief is unfounded. It contradicts macro’s claim that equality of demand and supply determines output. It contradicts (new) monetary theory, which claims that equality of demand...
Persistent link: https://www.econbiz.de/10005413280
We aim at investigating to what extent reciprocal considerations, exhibited by employers and employees, should lead to stable gift exchange practices in the labor contract, giving rise to non- compensating wage differentials among industries. We use the concept of Sequential Reciprocity...
Persistent link: https://www.econbiz.de/10005408349
This paper presents the results of an experiment performed to test the properties of an innovative bargaining mechanism (called automated negotiation) used to resolve disputes arising from Internet-based transactions. Automated negotiation is an online sealed-bid process in which an automated...
Persistent link: https://www.econbiz.de/10005408220
double auction experiments. Asks submitted by instances of the seller model (``automated sellers'') maximize the seller …
Persistent link: https://www.econbiz.de/10005413252
and experiments. To illustrate, we examine results by Gode and Sunder, who simulate random behavior in a double auction …
Persistent link: https://www.econbiz.de/10005561849
This paper considers bidding automata programmed by experienced subjects in sequential first price sealed bid auction …
Persistent link: https://www.econbiz.de/10005124959
Based on administrative data from the federal employment office in Germany, we apply matching techniques to estimate …
Persistent link: https://www.econbiz.de/10005125736