Market equilibrium with FSS search
نویسندگان
چکیده
منابع مشابه
Market equilibrium with FSS search
It is acknowledged that in the trading of homogeneous goods there is persistent price dispersion. However, it is theoretically derived that if buyers are optimizers there is no price dispersion. This negative result motivates the emergence of alternative paths in the literature that studies price dispersion. In Burdett and Judd’s seminal work, buyers follow the sub-optimal fixed sample size sea...
متن کاملStrategic complementarities and search market equilibrium
In this paper, we apply supermodular game theory to the equilibrium search literature with sequential search. We identify necessary and sufficient conditions for the pricing game to exhibit strategic complementarities and prove existence of equilibrium. We then show that price dispersion is inherently incompatible with strategic complementarities in the sense that the Diamond Paradox obtains wh...
متن کاملSearch costs in electronic markets: market equilibrium and corporation strategy
In this paper, a model is built to analyse the influences of search costs on market equilibrium. According to the results of a simulation, we conclude that the equilibrium prices of e-markets are not always lower than those of conventional markets, especially under certain combinations of return costs and search costs. In addition, some managerial insights are derived from the simulation result...
متن کاملAn Empirical Equilibrium Search Model of the Labour Market
In structural empirical models of labour market search, the distribution of wage offers is usually assumed to be exogenous. Because in setting their wages profit-maximizing firms should consider the reservation wages of job seekers, this assumption is hard to justify. In this paper we estimate a structural equilibrium search model in which the wage offer distribution is endogenous. The model ta...
متن کاملEquilibrium Labor Market Search and Health Insurance Reform
We present and empirically implement an equilibrium labor market search model where risk averse workers facing medical expenditure shocks are matched with firms making health insurance coverage decisions. Our model delivers a rich set of predictions that can account for a wide variety of phenomenon observed in the data including the correlations among firm sizes, wages, health insurance offerin...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Applied Economics Letters
سال: 2004
ISSN: 1350-4851,1466-4291
DOI: 10.1080/1350485042000221616