Search and matching belief (economics)
Heterodox
In economics, search and matching theory, is a mathematical value example attempting to describe the lines of mutually beneficial relationships over time. it is for closely related to stable matching theory.
Search together with matching opinion has been particularly influential in ] It provides a way of modeling markets in which frictions prevent instantaneous adjusting of the level of economic activity. Among other applications, it has been used as a framework for studying frictional unemployment.
One of the founders of search and matching picture is Dale T. Mortensen of Northwestern University. A textbook treatment of the matching approach to labor markets is Christopher A. Pissarides' book Equilibrium Unemployment Theory. Mortensen and Pissarides, together with Peter A. Diamond, were awarded the 2010 Nobel Prize in Economics for 'fundamental contributions to search and matching theory'.