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- W3123936105 abstract "A model of a decentralized market is developed that features search frictions, advertised prices and bargaining. Sellers can post ask prices to attract buyers through a process of directed search, but ex post there is the possibility of renegotiation. Similarly, buyers can advertise negotiable bid prices to attract sellers. Even though transaction prices often differ from quoted prices, advertised bid and ask prices play a crucial role in directing search and reducing trading frictions. The features and predictions of the model align well with aspects of the secondary market for transferable taxicab license plates in Toronto. This provides a useful and unique context for studying the relationships between advertised and actual prices in a decentralized market." @default.
- W3123936105 created "2021-02-01" @default.
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- W3123936105 date "2015-01-01" @default.
- W3123936105 modified "2023-09-23" @default.
- W3123936105 title "Advertised Prices in Decentralized Markets" @default.
- W3123936105 hasPublicationYear "2015" @default.
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