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New Developments in Models of Search in the Labour Market

Mortensen, Dale T; Pissarides, Christopher - C.E.P.R. Discussion Papers - 1999

This paper surveys recent work in equilibrium models of labor markets characterized by search and recruitment frictions and by the need to reallocate workers across productive activities. The duration of unemployment and jobs and wage determination are treated as endogenous outcomes of job...

Persistent link: https://www.econbiz.de/10005497772

Does Space Affect Search? A Theory of Local Unemployment

Wasmer, Etienne; Zenou, Yves - C.E.P.R. Discussion Papers - 1999

The spatial dispersion of economic agents is an immediate determinant of informational imperfections. We investigate how this dispersion creates search frictions and thus rationing. For that, we develop a model of local labour markets in which workers' search efficiency is negatively affected by...

Persistent link: https://www.econbiz.de/10005656179

Search and Matching in Macroeconomics

Yashiv, Eran - C.E.P.R. Discussion Papers - 2006

This paper surveys the use of search and matching models in macroeconomics. It outlines the standard model, discusses …

Persistent link: https://www.econbiz.de/10005792066

A Test Between Unemployment Theories Using Matching Data

Coles, Melvyn G; Petrongolo, Barbara - C.E.P.R. Discussion Papers - 2002

A new methodology is described which tests between various equilibrium theories of unemployment using matching data … identify a matching process using data which is recorded monthly, and also shows how to identify different unemployment … employment agency data for the UK over the period 1985-99. Although the standard random matching approach provides a reasonably …

Persistent link: https://www.econbiz.de/10005123575

Firm-Specific Training

Felli, Leonardo; Harris, Christopher J - C.E.P.R. Discussion Papers - 2004

This Paper introduces two complementary models of firm-specific training: an informational model and a productivity-enhancement model. In both models, market provision of firm-specific training is inefficient. The nature of the inefficiency depends, however, on the balance between the two key...

Persistent link: https://www.econbiz.de/10005504684

Carrots and Sticks: Prizes and Punishments in Contests

Moldovanu, Benny; Sela, Aner; Shi, Xianwen - C.E.P.R. Discussion Papers - 2008

We study optimal contest design in situations where the designer can reward high performance agents with positive prizes and punish low performance agents with negative prizes. We link the optimal prize structure to the curvature of distribution of abilities in the population. In particular, we...

Persistent link: https://www.econbiz.de/10005504366

All-pay auctions with certain and uncertain prizes

Minchuk, Yizhaq; Sela, Aner - C.E.P.R. Discussion Papers - 2014

We study all-pay auctions with multiple prizes. The players have the same value for all the certain prizes except for one uncertain prize for which each player has a private value. We characterize the equilibrium strategy and show that if the number of prizes is smaller than the number of...

Persistent link: https://www.econbiz.de/10011083545

Sequential Two-Prize Contests

Sela, Aner - C.E.P.R. Discussion Papers - 2008

We study two-stage all-pay auctions with two identical prizes. In each stage, players compete for one prize. Each player may win either one or two prizes. We analyze the equilibrium strategies where players' marginal values for the prizes are either declining or inclining.

Persistent link: https://www.econbiz.de/10005791222

Caps in Sequential Contests

Megidish, Reut; Sela, Aner - C.E.P.R. Discussion Papers - 2010

We study a sequential two-stage all-pay auction with two identical prizes. In each stage, the players compete for one … stages. We analyze the equilibrium in this sequential all-pay auction with bid caps and show that capping the players' bids …

Persistent link: https://www.econbiz.de/10008468581

Bargaining in Mergers and Termination Fees

Rosenkranz, Stephanie; Weitzel, Utz - C.E.P.R. Discussion Papers - 2007

value. Our bargaining model offers an alternative to auction related explanations of termination fees, like cost …

Persistent link: https://www.econbiz.de/10005498188