We prove existence of steady-state equilibrium in a class of matching models with search frictions. …

We propose a standard search and bargaining model with divisible money, in which only the random matching market opens … and the generalized Nash bargaining settles each trade. Assuming fixed production costs, we analytically characterize a … solution to the bargaining problem and each seller produces a positive amount of goods as an interior solution. The bargaining …

bargaining model of price formation with asymmetric information. Under natural assumptions on type distributions, and for any …

experiments that our distributed negotiation strategy yields performance sufficiently close to the Nash bargaining solution, and …

concerned with fairness. Nash bargaining solution is introduced as the fairness reference point and equilibrium results are …

trade. Once a worker-firm pair reach agreement, they exit the market. Alternative possible matches affect agents' bargaining … -- feature frequently. Mismatch occurs whenever an agent's bargaining position is at risk of deteriorating. Delay occurs whenever … agents expect their bargaining position to improve. Delay can be extensive and structured with vertically differentiated …

consistent with these facts. In this theory, search and bargaining with incomplete information generates stickiness in the … place low value on the unit search elsewhere and leave. Landlords with one unit loathe vacancy and offer tenants the … identical contract to pre-empt search; only those who really hate the unit leave …

We study a bargaining model in which a buyer makes frequent offers to a privately informed seller, while gradually …