We introduce and solve a new class of quot;downward-recursivequot; static portfolio choice problems. An individual simultaneously chooses among ranked stochastic options, and each choice is costly. In the motivational application, just one may be exercised from those that succeed. This often...

In Becker's (1973) neoclassical marriage market model, matching is positively assortative if types are complements: i.e.\ match output f(x,y) is supermodular in x and y. We reprise this famous result assuming time-intensive partner search and transferable output. We prove existence of a search...