Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
956707 | Journal of Economic Theory | 2016 | 16 Pages |
Abstract
This paper presents and analyzes a simple equilibrium search model. On one side, there is a population of searchers; on the other side, a population of objects. Searchers are strategic decision makers who are there to get matched to an object, while objects have no preferences or decisions to make. The main novelty is that an object is characterized by two attributes, but a searcher can observe only one at the point of decision. This generates some interesting phenomena such as multiplicity of equilibria, in some of which the searcher's payoff is a discontinuous function of the observed attribute and the adoption decision is not everywhere monotonic in the observed attribute.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Wojciech Olszewski, Asher Wolinsky,