NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Marketplace Institutions Related to the Timing of Transactions

Alvin E. Roth

NBER Working Paper No. 16556
Issued in November 2010
NBER Program(s):   LS

This note describes the unraveling of transaction dates in several markets, including the labor markets for new lawyers hired by large law firms and for gastroenterology fellows, and the market for post-season college football bowls. Together these will illustrate that unraveling can occur in markets with competitive prices, that it can result in substantial inefficiencies, and that marketplace institutions play a role in restoring efficiency. I’ll conclude with open questions about the role of marketplace institutions and the timing of transactions.

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