搜索、风险规避与同质性匹配

Topic:

Search, Risk Aversion, and Assortative Matching

Time&Date: 

10:30 am-12:00 pm, December 6, 2024 (Friday)

Venue

Room 904, Teaching Complex D Building

Speaker:

Prof. Xiaoming Cai (Peking University)

Abstract:

This paper studies assortative matching between heterogeneous workers and firms in a directed search model with production complementarity and risk averse workers. I show that positive assortative matching (PAM) occurs if and only if the elasticity of complementarity of the production function times that of the matching function exceeds the coefficient of the relative risk aversion of the logarithm of the utility function. This condition is particularly simple if we require PAM to hold for all matching functions: The utility gain from consuming the match output is log-supermodular.
 

Biography: