Ex post bidding and efficient coordination unemployment
Abstract
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 true even in finite-sized markets where the equilibrium-matching process has decreasing returns to scale - where the `Hosios rule' does not apply - both with and without heterogeneity.Download Info
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Bibliographic Info
Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.
Volume (Year): 38 (2005)
Issue (Month): 1 (February)
Pages: 174-193
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Related research
Keywords:Find related papers by JEL classification:
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- J64 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment: Models, Duration, Incidence, and Job Search
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- John Kennes, 2004.
"Competitive Auctions: Theory and Application,"
Discussion Papers
04-16, University of Copenhagen. Department of Economics.
- John Kennes, 2004. "Competitive Auctions: Theory and Application," CAM Working Papers 2004-17, University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics.
- Gabor Virag, 2008. "Buyer heterogeneity and competing mechanism," 2008 Meeting Papers 702, Society for Economic Dynamics.
- Bruno Decreuse & André Zylberberg, 2007.
"Job search with ubiquity and the wage distribution,"
Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers)
halshs-00255780, HAL.
- Decreuse, Bruno & Zylberberg, André, 2006. "Job search with ubiquity and the wage distribution," MPRA Paper 3630, University Library of Munich, Germany, revised Apr 2007.
- Suren Basov & John Ian King & Lawrence Uren, 2010.
"The Employed, the Unemployed, and the Unemployable: Directed Search with Worker Heterogeneity,"
Working Papers
2010.03, School of Economics, La Trobe University.
- Suren Basov & Ian King & Lawrence Uren, 2010. "The Employed, the Unemployed, and the Unemployable: Directed Search with Worker Heterogeneity," Department of Economics - Working Papers Series 1094, The University of Melbourne.
- Lawrence Uren & Ian King & Suren Basov, 2011. "The Employed, the Unemployed, and the Unemployable: Directed Search with Worker Heterogeneity," 2011 Meeting Papers 292, Society for Economic Dynamics.
- Suren Basov & John Ian King & Lawrence Uren, 2010. "The Employed, the Unemployed, and the Unemployable: Directed Search with Worker Heterogeneity," Working Papers 2010.03, School of Economics, La Trobe University.
- Benoit Julien & John Kennes & Ian King & Sephorah Mangin, 2008.
"Directed Search, Unemployment and Public Policy,"
Department of Economics - Working Papers Series
1049, The University of Melbourne.
- Benoît Julien & John Kennes & Ian King & Sephorah Mangin, 2009. "Directed search, unemployment and public policy," Canadian Journal of Economics, Canadian Economics Association, vol. 42(3), pages 956-983, August.
- Julien, Benoit & Kennes, John & King, Ian Paul, 2011. "Implementing the Mortensen rule in a frictional labor market," Journal of Macroeconomics, Elsevier, vol. 33(1), pages 80-91, March.
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