| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8759 |
| DP8759 Efficient Cheap Talk in Directed Search: On the Non-essentiality of Commitment in Market Games | |
| Philipp Kircher | |
| 发表日期 | 2012 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | Directed search models are market games in which each firm announces a wage commitment to attract a worker. Miscoordination among workers generates search frictions, yet in equilibrium more productive firms post more attractive wage commitments to fill their vacancies faster, which yields constrained efficient outcomes. We show that commitment is not essential: Exactly the same efficient allocation can be sustained when announcements are pure cheap talk followed by a suitable subsequent wage-formation stage. The insights from existing commitment models extend unchanged to such a cheap-talk environment, even when workers differ in outside opportunities or observable common productivity. |
| 主题 | Industrial Organization |
| 关键词 | Directed search Commitment Cheap talk Competitive search |
| URL | https://cepr.org/publications/dp8759 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537595 |
| 推荐引用方式 GB/T 7714 | Philipp Kircher. DP8759 Efficient Cheap Talk in Directed Search: On the Non-essentiality of Commitment in Market Games. 2012. |
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