Marketplace Institutions Related to the Timing of Transactions

24 Pages Posted: 22 Nov 2010

See all articles by Alvin E. Roth

Alvin E. Roth

Dept. of Economics, Stanford University; National Bureau of Economic Research (NBER)

Date Written: November 2010

Abstract

This note describes the unraveling of transaction dates in several markets, including the labor markets for new lawyers hired by large law firms and for gastroenterology fellows, and the market for post-season college football bowls. Together these will illustrate that unraveling can occur in markets with competitive prices, that it can result in substantial inefficiencies, and that marketplace institutions play a role in restoring efficiency. I'll conclude with open questions about the role of marketplace institutions and the timing of transactions.

Suggested Citation

Roth, Alvin E., Marketplace Institutions Related to the Timing of Transactions (November 2010). NBER Working Paper No. w16556. Available at SSRN: https://ssrn.com/abstract=1712234

Alvin E. Roth (Contact Author)

Dept. of Economics, Stanford University ( email )

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National Bureau of Economic Research (NBER)

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