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On the equivalence of buyer and seller proposals within canonical matching and pricing environments

Author

Listed:
  • John Kennes

    () (Department of Economics and Business Economics, Aarhus University, Denmark)

  • Daniel le Maire

    (Department of Economics, University of Copenhagen, Denmark)

Abstract

This paper considers equilibrium proposals by either buyers or sellers in the canonical ‘urnball’ matching market. The proposals can either be posted prices announced by buyers; posted prices announced by sellers; or announcements by sellers (or by buyers) to entertain price proposals, as in auctions. We derive the expected revenue equivalence of these different modes of proposing in this canonical trading environment.

Suggested Citation

  • John Kennes & Daniel le Maire, 2016. "On the equivalence of buyer and seller proposals within canonical matching and pricing environments," Economics Working Papers 2016-10, Department of Economics and Business Economics, Aarhus University.
  • Handle: RePEc:aah:aarhec:2016-10
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    File URL: ftp://ftp.econ.au.dk/afn/wp/16/wp16_10.pdf
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    References listed on IDEAS

    as
    1. repec:adr:anecst:y:2018:i:129:p:1-32 is not listed on IDEAS
    2. John M. Abowd & Francis Kramarz & Sébastien Pérez-Duarte & Ian M. Schmutte, 2018. "Sorting Between and Within Industries: A Testable Model of Assortative Matching," Annals of Economics and Statistics, GENES, issue 129, pages 1-32.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Matching; pricing; frictions;

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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