JUMPING THE GUN - IMPERFECTIONS AND INSTITUTIONS RELATED TO THE TIMING OF MARKET TRANSACTIONS

• 成果类型: Article
• 署名作者: ROTH, AE; XING, XL
• 署名单位: National University of Singapore
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• 发表日期: 1994
• 页码: 992-1044
• 关键词: natural experiment; matching markets; ORGANIZATION; INTERNSHIPS; PSYCHOLOGY; physicians; residents; game

摘要

This paper concerns the difficulties associated with establishing a time at which a market will operate. We first describe the experience of several dozen markets and submarkets, from entry-level professional labor markets in the United States, Canada, England, and Japan, to the (American) market for postseason college football bowls. The difficulties these markets have experienced in coordinating the timing of transactions have been decisive in determining how they are organized today. The paper develops a framework in which to address the timing of transactions and the tendency observed in many of these markets for transactions to become earlier and earlier.