Frictional Matching Models

Posted: 31 Aug 2011

See all articles by Lones Smith

Lones Smith

University of Wisconsin at Madison - Department of Economics

Date Written: September 2011


This article reviews the developments in frictional matching models from 1990 to 2010, exploring how search frictions skew the matches that occur. This research succeeded by exploiting new tools from monotone methods under uncertainty. Seeing how this journey plays out is instructive in itself for economic theory. The article also describes in detail the different attacks on the existence of equilibrium required for these search and matching models.

Suggested Citation

Smith, Lones, Frictional Matching Models (September 2011). Annual Review of Economics, Vol. 3, pp. 319-338, 2011, Available at SSRN: or

Lones Smith (Contact Author)

University of Wisconsin at Madison - Department of Economics ( email )

1180 Observatory Drive
Madison, WI 53706-1393
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608-263-3871 (Phone)
608-262-2033 (Fax)


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