Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/94983
Authors: 
Albrecht, James W.
Vroman, Susan B.
Year of Publication: 
1990
Series/Report no.: 
IUI Working Paper 268
Abstract: 
This paper examines the problem of nonexistence of equilibrium in a simple search model with asymmetric information. A pure-strategy, symmetric Nash equilibrium fails to exist because adverse selection arising from steady-state considerations causes a nonconcavity in the payoff function.
Subjects: 
Nash equilibria
Informational asymmetry
Search model
JEL: 
D82
J64
Document Type: 
Working Paper

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