@workingpaper {74431,
	title = {Who benefits from improved search in platform markets? (with Albert Wang)},
	year = {2013},
	abstract = {Online platforms invest large sums in their search technology.  Motivated by this, we investigate how lowering search costs affects the welfare of market participants, in a model where buyers with horizontally differentiated tastes search and compete for goods in an auction.  We identify a "matching effect", whereby lower search costs endogenously shift market participation in favor of some goods and against others.  We prove that there is a unique equilibrium, and demonstrate that the decentralized market achieves the social planner{\textquoteright}s solution.  Decreasing search costs thus improves joint welfare; and yet surprisingly joint seller revenue may fall.}
}
