Jumping the Gun: Imperfections and Institutions Related to the Timing of Market Transactions
研究市场交易时机协调的困难，分析多个市场（如美加英日初级专业劳动力市场、美国大学橄榄球季后赛市场）中交易时间不断提前的现象，并构建理论框架解释其成因与影响。
This paper concerns the difficulties associated with establishing a time at which a market will operate. The authors first describe the experience of several dozen markets and submarkets, from entry-level professional labor markets in the United States, Canada, England, and Japan to the (American) market for postseason college football bowls. The difficulties these markets have experienced in coordinating the timing of transactions have been decisive in determining how they are organized today. The paper develops a framework in which to address the timing of transactions and the tendency observed in many of these markets for transactions to become earlier and earlier. Copyright 1994 by American Economic Association.