This paper explores the relationship between market accessibility and various participants' welfare in an intermediated directed-search market. For a general class of meeting technologies, we provide a necessary and sufficient condition under which efficiency requires imperfect accessibility,...

This paper studies the relationship between incumbents' performance and political polarization, both with theory and data. The theory is based on a spatial model of political competition in which the voters use the incumbent's performance in office to update their beliefs about his competence. A...