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A theory of targeted search

Anton Cheremukhin, Paulina Restrepo-Echavarria and Antonella Tutino ()

No 1402, Working Papers from Federal Reserve Bank of Dallas

Abstract: We present a theory of targeted search, where people with a finite information processing capacity search for a match. Our theory explicitly accounts for both the quantity and the quality of matches. It delivers a unique equilibrium that resides in between the random matching and the directed search outcomes. The equilibrium that emerges from this middle ground is inefficient relative to the constrained Pareto allocation. Our theory encompasses the outcomes of the random matching and the directed search literature as limiting cases.

Keywords: efficiency; search; matching; information; assignment (search for similar items in EconPapers)
JEL-codes: C78 E24 J64 D83 (search for similar items in EconPapers)
Pages: 55 pages
Date: 2014-02-13, Revised 2014-02-13
New Economics Papers: this item is included in nep-dge, nep-mac, nep-mic and nep-sog
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Working Paper: A Theory of Targeted Search (2013) Downloads
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DOI: 10.24149/wp1402

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