Unraveling results from comparable demand and supply
an experimental investigation
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Author
Contributions
- Roth, Alvin E., 1951- - Contributor
- Ünver, M. Utku - Contributor
- Harvard Business School - Contributor
Publication
2010 - Harvard Business School, Boston, Massachusetts
Language
English
Word Count
11,500 words, Guess
Page Count
46 pages
Identifiers
- OCLC Control Number631112886
- Open LibraryOL45270237M
Description
"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.
Description
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.
Subjects
Series Statement
- Working paper / Harvard Business School -- 10-095
- NBER working paper series
- Working paper series (National Bureau of Economic Research)
Other Editions
- Unraveling results from comparable demand and supply
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