Search frictions, competing mechanisms and optimal market segmentation
نویسندگان
چکیده
منابع مشابه
Sorting versus screening: Search frictions and competing mechanisms
In a market where sellers compete by posting trading mechanisms, we allow for a general search technology and show that its features crucially affect the equilibrium mechanism. Price posting prevails when meetings are rival, i.e., when a meeting by one buyer reduces another buyer’s meeting probability. Under price posting buyers reveal their type by sorting ex ante. Only if the meeting technolo...
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 2017
ISSN: 0022-0531
DOI: 10.1016/j.jet.2017.03.002