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Assortive Matching and Search

Author

Listed:
  • Shimer, R.
  • Smith, L.

Abstract

This paper reexamines a classic insight of the assignment literature - when match- ing is assortative - in an environment with search frictions. We assume a continuum of heterogeneous agents who can produce only in pairs . If two agents form a match, they generate a ow of divisible output. We depart from the neoclassical assignment literature (e.g. Becker 1973) in assuming that match creation is time consuming: each unmatched agent faces a Poisson arrival of potential mates (Diamond 1982, Mortensen 1982, Pissarides 1990). As matching precludes further search, agents must weigh the opportunity cost of ceasing to search for better op- tions, against the benet of producing immediately.

Suggested Citation

  • Shimer, R. & Smith, L., 1998. "Assortive Matching and Search," Papers 98-09, Michigan - Center for Research on Economic & Social Theory.
    • Handle: RePEc:fth:michet:98-09
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    Keywords

    MATCHING;

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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