| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21731 |
| 来源ID | Working Paper 21731 |
| Dynamic Directed Random Matching | |
| Darrell Duffie; Lei Qiao; Yeneng Sun | |
| 发表日期 | 2015-11-16 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | We develop a general and unified model in which a continuum of agents conduct directed random searches for counterparties. Our results provide the first probabilistic foundation for static and dynamic models of directed search (including the matching-function approach) that are common in search-based models of financial markets, monetary theory, and labor economics. The agents' types are shown to be independent discrete-time Markov processes that incorporate the effects of random mutation, random matching with match-induced type changes, and with the potential for enduring partnerships that may have randomly timed break-ups. The multi-period cross-sectional distribution of types is shown to be deterministic and is calculated using the exact law of large numbers. |
| 主题 | Microeconomics ; Game Theory ; Economics of Information ; Macroeconomics ; Money and Interest Rates ; Financial Economics ; Portfolio Selection and Asset Pricing |
| URL | https://www.nber.org/papers/w21731 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579406 |
| 推荐引用方式 GB/T 7714 | Darrell Duffie,Lei Qiao,Yeneng Sun. Dynamic Directed Random Matching. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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