Spatial search
研究了卖家在不同地点(如繁华街道或搜索引擎首页)遇到买家的概率不同时,高质量利基产品卖家是否会自动选择最佳地点,发现分散市场不一定实现正匹配,但内生地点分布时均衡总能实现正匹配。
This paper considers a random search model where some locations provide sellers with better chances of meeting many buyers than other locations (for example popular shopping streets or the first page of a search engine). When sellers are heterogeneous in terms of the quality of their product and/or the probability that a given buyer likes their product, it is desirable that sellers of high-quality niche products sort into the best locations (positive assortative matching, PAM). We show that this does not always happen in a decentralized market. Finally, we endogenize the location distribution and show that PAM between sellers and locations always arises in equilibrium. However, the equilibrium distribution of locations is too favorable for the sellers of high-quality, niche products.