Matching and Bargaining in Dynamic Markets
AbstractThis paper examines a matching and bargaining model of a dynamic market for an indivisible good. On entering the market , buyers and sellers wait to be matched with an agent of the opposite type. Once a pair is matched, they bargain. The bargaining continues until agreement is reached or else one or both of the agents is matc hed elsewhere. After reaching agreement, both agents immediately leav e the market. The unique equilibrium is characterized for the case of continuous time and infinite numbers of agents of both types. Copyright 1988 by The Review of Economic Studies Limited.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Review of Economic Studies.
Volume (Year): 55 (1988)
Issue (Month): 1 (January)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0034-6527
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