作者:Moscarini, Giuseppe; Wright, Randall
作者单位:Yale University; University of Wisconsin System; University of Wisconsin Madison; National Bureau of Economic Research
摘要:This introduces the Symposium on Search Theory and Applications. (C) 2010 Elsevier Inc. All rights reserved.
作者:Silveira, Rafael; Wright, Randall
作者单位:University of Wisconsin System; University of Wisconsin Madison; University of Wisconsin System; University of Wisconsin Madison; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
摘要:We study a market where innovators, who are good at coming up with ideas, can sell them to entrepreneurs, who might be better at implementing them. The market is decentralized, with random matching and bargaining. Ideas are characterized by five salient features: they are indivisible; partially nonrival; intermediate inputs; subject to informational frictions; and difficult to collateralize. This last feature gives rise to a demand by entrepreneurs for liquidity. We determine which ideas get t...