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Assortive Matching and Search

  • Shimer, R.
  • Smith, L.

This paper reexamines a classic insight of the assignment literature - when match- ing is assortative - in an environment with search frictions. We assume a continuum of heterogeneous agents who can produce only in pairs . If two agents form a match, they generate a ow of divisible output. We depart from the neoclassical assignment literature (e.g. Becker 1973) in assuming that match creation is time consuming: each unmatched agent faces a Poisson arrival of potential mates (Diamond 1982, Mortensen 1982, Pissarides 1990). As matching precludes further search, agents must weigh the opportunity cost of ceasing to search for better op- tions, against the benet of producing immediately.

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Paper provided by Michigan - Center for Research on Economic & Social Theory in its series Papers with number 98-09.

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Length: 29 pages
Date of creation: 1998
Date of revision:
Handle: RePEc:fth:michet:98-09
Contact details of provider: Postal: UNIVERSITY OF MICHIGAN, DEPARTMENT OF ECONOMICS CENTER FOR RESEARCH ON ECONOMIC AND SOCIAL THEORY, ANN ARBOR MICHIGAN U.S.A.

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