TY  - JOUR
AU  - Roth,Alvin E.
TI  - Marketplace Institutions Related to the Timing of Transactions
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 16556
PY  - 2010
Y2  - November 2010
UR  - http://www.nber.org/papers/w16556
L1  - http://www.nber.org/papers/w16556.pdf
N1  - Author contact info:
Alvin E. Roth
Department of Economics
Stanford University
579 Serra Mall
Stanford, CA 94305
Tel: 650/725-9147
E-Mail: alroth@stanford.edu
AB  - 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.
ER  -