Truncation strategies in matching markets - in search of advice for participants

Article Abstract:

A study was conducted to the determine the truncation strategies that entry level workers can adopt when faced with centralized market clearing mechanisms of the labor market. It was observed that most market organizers use mechanisms that implement stable matching because of their effectiveness. Thus, workers are advised to submit a truncation of the true references rather than stating preferences that are the opposite of the true preference order.

Administration of General Economic Programs, Jobs & Employment, Methods, Employment, Employee selection, Job hunting, Job applicants, Human resource management )

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Informative price advertising in a sequential search model

Article Abstract:

An analysis of informative price advertising is presented. The analysis focuses on a situation where such advertising is a replacement for costly consumer shopping trips. Both consumersand the firm have access to information on prices. It is shown that a reductionin advertising costs generates competitive prices. In addition, reduced search costs sets prices above marginal production costs.

Advertising, Prices

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Econometrics of first-price auctions

Article Abstract:

An empirical study of theoretical auction models is presented using the estimation method. The concept of private values were adopted with focus on first-price and descending auctions. The simulation method employed depended on an adjusted simulated nonlinear least squares objective function. A market of agricultural products were studied to demonstrate the proposed method.

Agriculture, Crop Production, Auctions, Produce industry

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