Dissertation Defense: Veli Safak
Candidate Name: Veli Safak
Advisor: Axel Z. Anderson, Ph.D.
Title: Essays on Uncertainty and Credit Market Frictions
This dissertation examines search and matching models with multidimensional offers and agents.
The first chapter presents a search model with multidimensional offers. In addition to generalizing standard comparative static results for unidimensional search models, I also obtain new multidimensional comparative static results with no unidimensional analog.
The second chapter analyzes dynamic changes in the U.S. marriage market between 1970 and 2015. I document how the landscape in the U.S. marriage market changed over time. Furthermore, I also estimate changes in racial and educational attraction between individuals. Finally, I report a racial and educational decomposition of individuals’ expected utilities of being married and how they changed over time.
The last chapter presents a general framework of matching markets with multidimensional agents. I introduce new concepts for multidimensional sorting and complementarities. By establishing the link between multidimensional complementarities and sorting patterns, I generalize Becker’s celebrated sorting results to the matching model with multidimensional agents. Furthermore, I also examine associations between individuals’ and their spouses’ health status and education levels in the U.S. By using an empirical multidimensional matching model; I decompose the well-documented positive association between individuals’ health status and their spouses’ education levels. I show that the association is a product of positive association between individuals’ health status and their education levels, and the attraction between better-educated individuals. This decomposition also suggests that the risk associated with a two-person family plan is higher than the combined risk associated with two individual plans.
Friday, April 26 at 4:30pm to 6:30pm
Edward B. Bunn, S.J. Intercultural Center, 214
37th and O St., N.W., Washington
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