Search for an object with two attributes

Wojciech Olszewski and Asher Wolinsky

Journal of Economic Theory, 2016, vol. 161, issue C, 145-160

Abstract: This paper presents and analyzes a simple equilibrium search model. On one side, there is a population of searchers; on the other side, a population of objects. Searchers are strategic decision makers who are there to get matched to an object, while objects have no preferences or decisions to make. The main novelty is that an object is characterized by two attributes, but a searcher can observe only one at the point of decision. This generates some interesting phenomena such as multiplicity of equilibria, in some of which the searcher's payoff is a discontinuous function of the observed attribute and the adoption decision is not everywhere monotonic in the observed attribute.

Keywords: Search; Matching; Attributes (search for similar items in EconPapers)
JEL-codes: C78 D83 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:161:y:2016:i:c:p:145-160

DOI: 10.1016/j.jet.2015.11.004

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