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Random Matching Models and Money : The Global Structure and Approximation of Stationary Equilibria

Talman, Dolf; Kamiya, K. - Tilburg University, Center for Economic Research - 2003

Random matching models with different states are an important class of dynamic games; for example, money search models, job search models, and some games in biology are special cases.In this paper, we investigate the basic structure of the models: the existence of equilibria, the global...

Persistent link: https://www.econbiz.de/10011090770

Smith and Rawls Share a Room: Stability and Medians

Klaus, Bettina; Klijn, Flip - Harvard Business School, Harvard University - 2009

We consider one-to-one, one-sided matching (roommate) problems in which agents can either be matched as pairs or remain single. We introduce a so-called bi-choice graph for each pair of stable matchings and characterize its structure. Exploiting this structure we obtain as a corollary the "lone...

Persistent link: https://www.econbiz.de/10005754964

Information Percolation with Equilibrium Search Dynamics

DUFFIE, Darrell; MALAMUD, Semyon; MANSO, Gustavo

We solve for the equilibrium dynamics of information sharing in a large population. Each agent is endowed with signals regarding the likely outcome of a random variable of common concern. Individuals choose the effort with which they search for others from whom they can gather additional...

Persistent link: https://www.econbiz.de/10005227622

Information Percolation in Segmented Markets

DUFFIE, Darrell; MALAMUD, Semyon; MANSO, Gustavo - 2010

We calculate equilibria of dynamic double-auction markets in which agents are distinguished by their preferences and information. Over time, agents are privately informed by bids and offers. Investors are segmented into groups that differ with respect to characteristics determining information...

Persistent link: https://www.econbiz.de/10008922909

Trends in Earnings Inequality and Earnings Instability among U.S. Couples: How Important Is Assortative Matching?

Hryshko, Dmytro; Juhn, Chinhui; McCue, Kristin - 2014

We examine changes in inequality and instability of the combined earnings of married couples over the 1980-2009 period … is both lower in levels and rises by a smaller amount. We also find that couples' earnings instability is lower in levels … compared to male earnings instability and actually declines in the SIPP-SSA data. While wives' earnings played an important …

Persistent link: https://www.econbiz.de/10010481616

Trends in Earnings Inequality and Earnings Instability among U.S. Couples: How Important Is Assortative Matching?

Hryshko, Dmytro; Juhn, Chinhui; McCue, Kristin - Institute for the Study of Labor (IZA) - 2014

Persistent link: https://www.econbiz.de/10011106169

Trends in Earnings Inequality and Earnings Instability among U.S. Couples: How Important is Assortative Matching?

Hryshko, Dmytro; Juhn, Chinhui; McCue, Kristin - Department of Economics, University of Alberta - 2015

Persistent link: https://www.econbiz.de/10011267838

Trends in earnings inequality and earnings instability among US couples : how important is assortative matching?

Hryshko, Dmytro; Juhn, Chinhui; McCue, Kristin - 2014

Persistent link: https://www.econbiz.de/10010460789

Trends in earnings inequality and earnings instability among US couples : how important is assortative matching?

Hryshko, Dmytro; Juhn, Chinhui; McCue, Kristin - 2015

Persistent link: https://www.econbiz.de/10011334987

Money and credit in random matching models of money

Ferraris, Leo - Dipartimento di Economia e Diritto, Facoltà di Economia - 2002

I review in this paper some recent literature that deals with the coexistence of inside and outside money in a matching model of money à la Kiyotaki and Wright. I examine first a class of models that introduce credit by assuming that some agents’ actions can be monitored and punished by the...

Persistent link: https://www.econbiz.de/10009649907