• Directed search without price directions 

    Julien, Benoît; Kennes, John; King, Ian
    We present a simple directed search model of the labour market in which workers’ outside options play a key role. Two versions of the model are considered: one exact, with finite numbers of workers, and one in the limit ...
  • The human development index as a criterion for optimal planning 

    Engineer, Merwan; King, Ian; Roy, Nilanjana
    Planning strategies that maximize the Human Development Index (HDI) imply equitable outcomes – even though inequality aversion is not in the index itself. Moreover, the weight on income in the HDI plays only an indirect ...
  • Monetary exchange with multilateral matching 

    Julien, Benoît; King, Ian; Kennes, John
    This paper analyzes monetary exchange in a search model allowing for multilateral matches to be formed, according to a standard urn-ball process. We consider three physical environments: indivisible goods and money, divisible ...
  • The Mortensen rule and efficient coordination unemployment 

    Julien, Benoît; Kennes, John; King, Ian
    We apply the efficiency axioms of Mortensen (1982) to a set of matching games involving coordination frictions between buyers. These games include markets with .finite numbers of buyers and sellers and markets with infinite ...
  • Residual wage disparity and coordination unemployment 

    Julien, Benoît; Kennes, John; King, Ian
    How much of residual wage dispersion can be explained by an absence of coordination among firms? To answer, we construct a dynamic directed search model with identical workers where firms can create high or low productivity ...