Directed Search: A Guided Tour

Medientyp: E-Book

Titel: Directed Search : A Guided Tour

Beteiligte: Wright, Randall [VerfasserIn]; Julîen, Benoit [Sonstige Person, Familie und Körperschaft]; Kircher, Philipp [Sonstige Person, Familie und Körperschaft]; Guerrieri, Veronica [Sonstige Person, Familie und Körperschaft]

Körperschaft: National Bureau of Economic Research

Erschienen: Cambridge, Mass: National Bureau of Economic Research, September 2017

Umfang: 1 Online-Ressource

Sprache: Englisch

DOI: 10.3386/w23884

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Reproduktionsnotiz: Hardcopy version available to institutional subscribers

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Anmerkungen: Mode of access: World Wide Web
System requirements: Adobe [Acrobat] Reader required for PDF files

Beschreibung: This essay surveys the literature on directed/competitive search, covering theory and applications in, e.g., labor, housing and monetary economics. These models share features with traditional search theory, yet differ in important ways. They share features with general equilibrium theory, but with explicit frictions. Equilibria are typically efficient, in part because markets price goods plus the time required to get them. The approach is tractable and arguably realistic. Results are presented for finite and large economies. Private information and sorting with heterogeneity are analyzed. Some evidence is discussed. While emphasizing issues and applications, we also provide several hard-to-find technical results

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