How much of residual wage dispersion can be explained by an absence of coordination
among firms? To answer, we construct a dynamic directed search model with identical …

We apply the efficiency axioms of [Mortensen, D.(1982). Efficiency of mating, racing and
related games. American Economic Review, 72 968–979.] to a set of matching games …

We study the implementation of constrained‐efficient allocations in labour markets where a
basic coordination problem leads to an equilibrium matching friction. We argue that these …

This paper explores the trade-off between the short-term benefits of false quality
advertisements against the longer term costs of reputation damage. A directed search model …

The theory of competitive auctions offers a coherent framework for modeling search frictions
as a non-cooperative game. The theory represents an advancement over cooperative …

This paper presents a survey and evaluation of search‐theoretic models of unemployment.
Four distinct categories of search models are identified and discussed: sequential sampling …

We show that, in settings where meetings can be multilateral, the allocation rule proposed
by Mortensen (1982) can be relatively straightforward to implement: as a local auction …

This paper presents a model of innovation and growth in which firms choose positive levels
of innovation activity in the presence of perfect product market competition both before and …

The theory of competitive auctions offers a coherent framework for modelling coordination
frictions as a non-cooperative game. The theory represents an advancement over …