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The provision of quality in a bilateral search market

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Author Info
Clara Ponsati
Jozsef Sakovics ()

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Abstract

We accomplish two goals. First, we provide a non-cooperative foundation for the use of the Nash bargaining solution in search markets. This finding should help to close the rift between the search and the matching-and-bargaining literature. Second, we establish that the diversity of quality offered (at an increasing price-quality ratio) in a decentralized market is an equilibrium phenomenon -even in the limit as search frictions disappear.

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File URL: http://www.econ.ed.ac.uk/papers/Provision_of_Quality_in_bilateral_search_market.pdf
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Publisher Info
Paper provided by Edinburgh School of Economics, University of Edinburgh in its series ESE Discussion Papers with number 86.

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Length: 22
Date of creation: Mar 2004
Date of revision:
Handle: RePEc:edn:esedps:86

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Related research
Keywords: quality dispersion; Nash Program; bilateral search.;

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Find related papers by JEL classification:
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms

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  1. Bester,Helmut, 1986. "Bargaining,Search costs and equilibrium price distribution," Discussion Paper Serie A 49, University of Bonn, Germany.
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