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Search with Wage Posting under Sticky Prices [PDF]

open access: possibleJournal of Money, Credit and Banking, 2014
AbstractThis paper examines the implications of interacting pricing frictions, labor market frictions, and consumption risk by comparing variants of a New Keynesian model. The model variants make alternative assumptions about whether hiring and pricing decisions occur within the same firm or across different firms, and whether workers pool income. Each
Foerster, Andrew T.   +1 more
openaire   +1 more source

Learning Optimal Posted Prices for a Unit-Demand Buyer

ACM Conference on Economics and Computation
Multi-item mechanism design has been studied extensively in the literature of economics and computation in the past two decades. Many recent works in the multi-dimensional mechanism design setting have been focused on approximating the optimal revenue ...
Yifeng Teng, Yifan Wang
semanticscholar   +1 more source

Incentive-Compatible Collusion-Resistance via Posted Prices

arXiv.org
We consider a refinement to the notions of collusion-resistance in transaction fee mechanisms. In particular, we require that the collusion is by itself incentive-compatible and individually rational to all of its participants.
Matheus V. X. Ferreira   +2 more
semanticscholar   +1 more source

Efficient parking allocation as online bipartite matching with posted prices

Adaptive Agents and Multi-Agent Systems, 2013
We study online bipartite matching settings inspired by parking allocation problems, where rational agents arrive sequentially and select their most preferred parking slot.
R. Meir, Yiling Chen, M. Feldman
semanticscholar   +1 more source

Post Keynesian Price Theory

History of Political Economy, 2000
This paper examines and develops the firm-centered price theory of Post Keynesian economics. It takes issue with the traditional interpretation of that theory, arguing that although its prices are cost-based, they are not cost-determined. The distinctiveness and significance of the theory are located elsewhere, in the strategic determination of prices ...
openaire   +2 more sources

Posted pricing for robust crowdsensing

Proceedings of the 17th ACM International Symposium on Mobile Ad Hoc Networking and Computing, 2016
Mobile crowdsensing has been considered as a promising approach for large scale urban data collection, but has also posed new challenging problems such as incentivization and quality control. Among the other incentivization approaches, posted pricing has been widely adopted by commercial systems due to the reason that it naturally achieves truthfulness
Kai Han, He Huang, Jun Luo
openaire   +1 more source

Post-Keynesian Price Theory

1999
Frederic Lee sets out the foundations of a post-Keynesian price theory through developing an empirically grounded production schema. The administered, normal cost and mark-up price doctrines are explained in parts I-III of the book, as many of their theoretical arguments are important for developing the foundations. This involves discussing the work of
openaire   +1 more source

Intermediated Markets with Posted Prices

SSRN Electronic Journal, 2002
We consider a model of intermediated trade for a financial asset. Agents' valuation for the asset includes both a private and a common value component. A third party posts a price at which trade can occur, and a buyer and seller simultaneously decide whether to accept or reject the trade. We show that trade can be ex post inefficient, in the sense that
Christine A. Parlour, Uday Rajan
openaire   +1 more source

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