WHO SEARCHES?*

Klaus Kultti (), Antti Miettunen, Tuomas Takalo and Juha Virrankoski

The Japanese Economic Review, 2009, vol. 60, issue 2, 152-171

Abstract: We consider a directed search model with buyers and sellers and determine whether buyers look for sellers or vice versa. The buyers and sellers can choose to search or wait; what they do in equilibrium depends on the relative size of the two populations and the price formation mechanism. We study bargaining and auctions and find that when one population is much larger than the other the former searches and the latter waits. Under auction with roughly equal populations some buyers and sellers search and some wait. Our results challenge the practice of postulating who searches and who waits.

Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://doi.org/10.1111/j.1468-5876.2008.00435.x

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:jecrev:v:60:y:2009:i:2:p:152-171

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=1352-4739

Access Statistics for this article

The Japanese Economic Review is currently edited by Akira Okada

More articles in The Japanese Economic Review from Japanese Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().