An Equilibrium Analysis of Search and Breach of Contract II . A Non-Steady State Example

@inproceedings{2003AnEA,
  title={An Equilibrium Analysis of Search and Breach of Contract II . A Non-Steady State Example},
  author={},
  year={2003}
}
  • Published 2003
Consider a market where individuals meet pairwise and where each individual makes at most one trade (or is part of at most one project). The market for waterfront summer rentals is one example. Assume that search is costly and that there are fixed (and equal) numbers of potential landlords and renters. Suppose that tastes differ in that two renters may disagree about which of two houses is better, but assume that houses are ex ante identical in the sense that the distribution of evaluations is… CONTINUE READING