A labor market with targeted wage offers
We model a market for highly skilled workers, such as the academic job market. The outputs of firm-worker matches are heterogeneous and common knowledge. Wage setting is synchronous with search: firms 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.
|Date of creation:||21 Jun 2011|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.econ.ed.ac.uk/
More information through EDIRC
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.:
- Bulow, Jeremy I. & Levin, Jonathan, 2003.
"Matching and Price Competition,"
1818, Stanford University, Graduate School of Business.
- Jonathan Levin & Jeremy Bulow, 2004. "Matching and Price Competition," Econometric Society 2004 North American Winter Meetings 350, Econometric Society.
- Jeremy Bulow & Jonathan Levin, 2005. "Matching and Price Competition," NBER Working Papers 11506, National Bureau of Economic Research, Inc.
- 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.
- Konishi, Hideo & Sapozhnikov, Margarita, 2008. "Decentralized matching markets with endogenous salaries," Games and Economic Behavior, Elsevier, vol. 64(1), pages 193-218, September.
- 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.
- Peters, Michael, 1991. "Ex Ante Price Offers in Matching Games Non-steady States," Econometrica, Econometric Society, vol. 59(5), pages 1425-54, September.
- McAfee, R Preston, 1993. "Mechanism Design by Competing Sellers," Econometrica, Econometric Society, vol. 61(6), pages 1281-1312, November.
When requesting a correction, please mention this item's handle: RePEc:edn:esedps:207. See general information about how to correct material in RePEc.
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.