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Two-sided search and perfect segregation with fixed search costs

  • Chade, Hector

This paper studies a two-sided search model with the following characteristics: there is a continuum of agents with different types in each population, match utility is nontransferable, and there is a fixed search cost that agents incur in each period. When utility functions are additively separable in types and strictly increasing in the partner's type, there exists a unique matching equilibrium that exhibits perfect segregation as in Smith (1997) and Burdett and Coles (1997); i.e., agents form clusters and mate only within them. The role of additive separability and xed search costs is discussed and contrasted with the discounted case, and an intuitive explanation for the different results obtained in the literature is provided. Also, a simple sufficient condition on the match utility function and the density of types allow us to characterize the duration of the search for each type of agent.

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File URL: http://www.sciencedirect.com/science/article/B6V88-42R0TY0-3/2/3ea549c4cea2c8c13901c56e0e989da8
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Article provided by Elsevier in its journal Mathematical Social Sciences.

Volume (Year): 42 (2001)
Issue (Month): 1 (July)
Pages: 31-51

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Handle: RePEc:eee:matsoc:v:42:y:2001:i:1:p:31-51
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505565

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  1. Burdett, Ken & Coles, Melvyn G, 1997. "Marriage and Class," The Quarterly Journal of Economics, MIT Press, vol. 112(1), pages 141-68, February.
  2. Becker, Gary S, 1974. "A Theory of Marriage: Part II," Journal of Political Economy, University of Chicago Press, vol. 82(2), pages S11-S26, Part II, .
  3. Arial Rubinstein & Asher Wolinsky, 1985. "Equilibrium in a Market with Sequential Bargaining," Levine's Working Paper Archive 623, David K. Levine.
  4. Ken Burdett & Randall Wright, 1998. "Two-Sided Search with Nontransferable Utility," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 1(1), pages 220-245, January.
  5. Laitner, John, 1991. "Modeling Marital Connections among Family Lines," Journal of Political Economy, University of Chicago Press, vol. 99(6), pages 1123-41, December.
  6. Becker, Gary S, 1973. "A Theory of Marriage: Part I," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 813-46, July-Aug..
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