The Efficiency of Search under Competition and Monopsony
比较了买方垄断和竞争性搜索均衡，发现竞争均衡是有效的，而买方垄断均衡导致过度搜索和过低就业率。
This paper compares monopsonistic and competitive search equilibria. While the competitive equilibrium is efficient, the monopsonistic equilibrium is not: there is too much search, and the employment rate is too low.