Showing 1 - 10 of 286
This paper analyzes monetary exchange in a search model allowing for multilateral matches to be formed, according to a standard urn-ballprocess. We consider three physical environments: indivisible goods and money, divisible goods and indivisible money, and divisible goods and money. We compare...
Persistent link: https://www.econbiz.de/10005749653
We study the implementation of constrained-efficient allocations in labour markets where a basic coordination problem leads to an equilibrium matching friction. We argue that these allocations can be achieved in a non-cooperative equilibrium if wages are determined by ex post bidding. This holds...
Persistent link: https://www.econbiz.de/10005608784
We examine the effects of public policy parameters in a simple directed search model of the labour market, and contrast them with those in standard random matching models with Nash bargaining. Both finite and limit versions of the directed search model are considered, and the value of the limit...
Persistent link: https://www.econbiz.de/10008625990
In a model with two buyers and sellers we consider the choice of sales mechanism from three possibilities: posted prices, and auctions with and without reserve prices. With homogenous goods, sellers´expected revenues are highestwhen both sellers auction with reserve prices 33% higher than if...
Persistent link: https://www.econbiz.de/10005582006
Persistent link: https://www.econbiz.de/10008271332
Persistent link: https://www.econbiz.de/10007673536
Persistent link: https://www.econbiz.de/10003275727
Persistent link: https://www.econbiz.de/10003280163
Persistent link: https://www.econbiz.de/10003280169
Persistent link: https://www.econbiz.de/10003280196