Economics

Permanent URI for this collectionhttps://hdl.handle.net/10679/316

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Browsing by Institution Author "DURAN, Şerife Nuray"

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    Accounting for age in marital search decisions
    (Elsevier, 2016-06) Akın, Şerife Nuray; Platt, B. C.; Economics; DURAN, Şerife Nuray
    Spouse quality, measured by educational attainment, varies significantly with the age at which an individual marries, peaking in the mid-twenties then declining through the early-forties. Interestingly, this decline is much sharper for women than men, meaning women increasingly marry less educated men as they age. Moreover, quality has worsened for educated women over several decades, while it has improved for men. Using a non-stationary sequential search model, we identify and quantify the search frictions that generate these age-dependent marriage outcomes. We find that single-life utility is typically the dominant friction, though college women in the 1950 and 1970 cohorts are affected even more by deteriorating suitor quality. Regardless of educational status, individual choice (as opposed to pure luck) is pivotal in explaining marriage market outcomes earlier in life.
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    Transition dynamics in equilibrium search
    (American Economic Association, 2022) Akın, Şerife Nuray; Platt, B. C.; Economics; DURAN, Şerife Nuray
    We study a dynamic equilibrium search model where sellers differ in their urgency to liquidate an asset. Buyers strategically make price offers without knowing a given seller’s urgency. We study liquidity and price dynamics on the transition path after an unexpected shock. Generically, the transition includes a phase where all buyers offer the same price, causing a market collapse; however, price dispersion resumes in finite time, leading to a recovery where both types make sales. We show that prices and liquidity can overshoot before converging to the steady state. When relaxed sellers randomly become desperate, dampening oscillations can occur.