Colección SciELO Chile

Departamento Gestión de Conocimiento, Monitoreo y Prospección
Consultas o comentarios: productividad@anid.cl
Búsqueda Publicación
Búsqueda por Tema Título, Abstract y Keywords



Search at the Margin
Indexado
WoS WOS:000416398000010
Scopus SCOPUS_ID:85030663497
DOI 10.1257/AER.20151579
Año 2017
Tipo artículo de investigación

Citas Totales

Autores Afiliación Chile

Instituciones Chile

% Participación
Internacional

Autores
Afiliación Extranjera

Instituciones
Extranjeras


Abstract



We extend search theory to multiple indivisible units and perfectly divisible assets, solving them respectively with induction and recursion. Buyer demands and prices are random, and the seller can partially exercise orders. With divisible assets, the Bellman value function is increasing and strictly concave, and the optimal reservation price falls in the position, reflecting increasing holding costs (opportunity cost of delaying optionality for inframarginal units). The marginal value exists, and is strictly convex with a falling purchase cap density. Our model is amenable to price-quantity bargaining; e.g., greater buyer bargaining power is tantamount to greater search frictions.

Revista



Revista ISSN
American Economic Review 0002-8282

Métricas Externas



PlumX Altmetric Dimensions

Muestra métricas de impacto externas asociadas a la publicación. Para mayor detalle:

Disciplinas de Investigación



WOS
Economics
Scopus
Sin Disciplinas
SciELO
Sin Disciplinas

Muestra la distribución de disciplinas para esta publicación.

Publicaciones WoS (Ediciones: ISSHP, ISTP, AHCI, SSCI, SCI), Scopus, SciELO Chile.

Colaboración Institucional



Muestra la distribución de colaboración, tanto nacional como extranjera, generada en esta publicación.


Autores - Afiliación



Ord. Autor Género Institución - País
1 Carrasco, Jose A. Hombre
2 Smith, Lones -

Muestra la afiliación y género (detectado) para los co-autores de la publicación.

Financiamiento



Fuente
National Science Foundation

Muestra la fuente de financiamiento declarada en la publicación.

Agradecimientos



Agradecimiento
Carrasco: 2640 Diagonal Las Torres, Santiago, Chile (email: jose.carrasco@uai.cl); Smith: 1180 Observatory Drive, Madison, WI 53706-1393 (email: lones@ssc.wisc.edu). This paper was accepted to the AER under the guidance of John Leahy, Coeditor. The first version of this paper was called "The Search for Liquidity." We have profited from feedback from the Midwest Economic Theory Conferences at Kansas and Ohio State, and seminars at Wisconsin, Notre Dame, Norwegian Business School, Leicester, Bucknell, and Pontificia Universidad Catolica de Chile. We thank two anonymous referees for helpful comments and suggestions, and Dean Corbae and Georgy Egorov for useful feedback. The authors declare that they have no relevant or material financial interests that relate to the research described in this paper. Lones thanks the National Science Foundation for funding.
* Carrasco: 2640 Diagonal Las Torres, Santiago, Chile (email: jose.carrasco@uai.cl); Smith: 1180 Observatory Drive, Madison, WI 53706–1393 (email: lones@ssc.wisc.edu). This paper was accepted to the AER under the guidance of John Leahy, Coeditor. The first version of this paper was called “The Search for Liquidity.” We have profited from feedback from the Midwest Economic Theory Conferences at Kansas and Ohio State, and seminars at Wisconsin, Notre Dame, Norwegian Business School, Leicester, Bucknell, and Pontificia Universidad Católica de Chile. We thank two anonymous referees for helpful comments and suggestions, and Dean Corbae and Georgy Egorov for useful feedback. The authors declare that they have no relevant or material financial interests that relate to the research described in this paper. Lones thanks the National Science Foundation for funding.

Muestra la fuente de financiamiento declarada en la publicación.