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Unraveling results from comparable demand and supply: an experimental investigation

Niederle, Muriel, Roth, Alvin E and Ünver, M Utku 2013, Unraveling results from comparable demand and supply: an experimental investigation, Games, vol. 4, no. 2, pp. 243-282, doi: 10.3390/g4020243.

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Title Unraveling results from comparable demand and supply: an experimental investigation
Author(s) Niederle, Muriel
Roth, Alvin E
Ünver, M Utku
Journal name Games
Volume number 4
Issue number 2
Start page 243
End page 282
Total pages 40
Publisher MDPI (Multidisciplinary Digital Publishing Institute)
Place of publication Switzerland
Publication date 2013-06
ISSN 2073-4336
Keyword(s) two-side matching
market design
unraveling
experiments
Summary 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.
Language eng
DOI 10.3390/g4020243
Field of Research 0 Not Applicable
Socio Economic Objective 0 Not Applicable
HERDC Research category C1.1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2013, The Authors
Free to Read? Yes
Use Rights Creative Commons Attribution licence
Persistent URL http://hdl.handle.net/10536/DRO/DU:30094092

Document type: Journal Article
Collections: Faculty of Business and Law
Open Access Collection
Department of Economics
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Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.