Adverse Selection in Competitive Search Equilibrium
---- Acknowledgements -----
We are grateful for comments from Daron Acemoglu, Hector Chade, Guido Lorenzoni, Giuseppe Moscarini, Iván Werning, and numerous seminar participants. Shimer and Wright thank the National Science Foundation for research support. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.