Bilateral Search and Vertical Heterogeneity
提出一个双边搜寻与纵向异质性的搜寻模型，允许一般效用函数，均衡分配唯一且存在于迭代严格占优中。当摩擦消失时模型与完美匹配模型一致，但均衡分配出奇地奇怪：对可乘可分偏好，分布被内生分割；对广泛偏好，匹配集自然不连通。
Just like perfect (frictionless) matching models, a search model is proposed that is characterized by bilateral search and vertical heterogeneity. It allows for a generally specified utility function. The equilibrium allocation is unique and exists in iterated strict dominance. The model is robust with the perfect matching model as frictions disappear. Nonetheless, the equilibrium allocations are surprisingly odd. For multiplicatively separable preferences, the distributions are partitioned endogenously. And for a wide range of preferences, matching sets are naturally disconnected.