A labor market with targeted wage offers
AbstractWe model a market for highly skilled workers, such as the academic job market. The outputs of ?rm-worker matches are heterogeneous and common knowledge. Wage setting is synchronous with search: ?rms simultaneously make one personalized offer each to the worker of their choice. With large frictions (delay costs), efficient coordination is not possible, but for small frictions efficient matching with Diamond-type monopsony wages is an equilibrium.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Edinburgh School of Economics, University of Edinburgh in its series ESE Discussion Papers with number 207.
Date of creation: 24 Jun 2011
Date of revision:
Other versions of this item:
- NEP-ALL-2011-07-02 (All new papers)
- NEP-DGE-2011-07-02 (Dynamic General Equilibrium)
- NEP-LAB-2011-07-02 (Labour Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Konishi, Hideo & Sapozhnikov, Margarita, 2008.
"Decentralized matching markets with endogenous salaries,"
Games and Economic Behavior,
Elsevier, vol. 64(1), pages 193-218, September.
- Hideo Konishi & Margarita Sapozhnikov, 2006. "Decentralized Matching Markets with Endogenous Salaries," Boston College Working Papers in Economics 654, Boston College Department of Economics, revised 03 Jan 2008.
- McAfee, R Preston, 1993. "Mechanism Design by Competing Sellers," Econometrica, Econometric Society, vol. 61(6), pages 1281-1312, November.
- Fuhito Kojima, 2007. "Matching and Price Competition: Comment," American Economic Review, American Economic Association, vol. 97(3), pages 1027-1031, June.
- Diamond, Peter A., 1971. "A model of price adjustment," Journal of Economic Theory, Elsevier, vol. 3(2), pages 156-168, June.
- Bulow, Jeremy I. & Levin, Jonathan, 2003.
"Matching and Price Competition,"
1818, Stanford University, Graduate School of Business.
- Jeremy Bulow & Jonathan Levin, 2005. "Matching and Price Competition," NBER Working Papers 11506, National Bureau of Economic Research, Inc.
- Jonathan Levin & Jeremy Bulow, 2004. "Matching and Price Competition," Econometric Society 2004 North American Winter Meetings 350, Econometric Society.
- Peters, Michael, 1991. "Ex Ante Price Offers in Matching Games Non-steady States," Econometrica, Econometric Society, vol. 59(5), pages 1425-54, September.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Gina Reddie).
If references are entirely missing, you can add them using this form.