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"Markets sometimes unravel, with offers becoming inefficiently early. Often this is attributed to competition arising from an imbalance of demand and supply, typically excess demand for workers. However this presents a puzzle, since unraveling can only occur when firms are willing to make early offers and workers are willing to accept them. We present a model and experiment in which workers' quality becomes known only in the late part of the market. However, in equilibrium, matching can occur (inefficiently) early only when there is comparable demand and supply: a surplus of applicants, but a shortage of high quality applicants"--National Bureau of Economic Research web site.
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Unraveling results from comparable demand and supply: an experimental investigation
2010, Harvard Business School
in English
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Unraveling results from comparable demand and supply: an experimental investigation
2009, National Bureau of Economic Research
Electronic resource
in English
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Book Details
Edition Notes
Title from PDF file as viewed on 6/16/2009.
Includes bibliographical references.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.
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Feedback?October 29, 2020 | Edited by MARC Bot | import existing book |
December 10, 2009 | Created by WorkBot | add works page |