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Physical search. (English) Zbl 1144.90405

Summary: Unidirectional search is an evolutionarily stable outcome in an economy where homogeneous buyers and sellers can either move or stay. It is more efficient than bidirectional search. In unidirectional search, it is more efficient if the more numerous agents move and the less numerous agents stay, than vice versa.

MSC:

90B40 Search theory
91B26 Auctions, bargaining, bidding and selling, and other market models
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[2] Burdett, K., Coles, M., Kiyotaki, N., and Wright, R. (1995) “Buyers and Sellers: Should I Stay or Should I Go?” AEA Papers and Proceedings (May), pp. 281–286.
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[5] Herreiner, D. (1999) “The Decision to Seek or to Be Sought?” Rheinische Friedrich-Wilhelms-Universität Bonn, Discussion Paper No. B-462.
[7] Kultti, K., Miettunen, A., Takalo, T., and Virrankoski, J. (2004) “Who Searches?” Helsinki Center of Economic Research Discussion Paper No. 6.
[11] Petrongolo, B., and Pissarides C. (2001) “Looking into the Black Box: a Survey of the Matching Function”. Journal of Economic Literature 39 (June) 390–431.
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