Search, Applications and Vacancies
AbstractThis paper examines a generalized rivalry problem in the labour market. It employs a simple labour supply model as a framework to analyse labour markets characterized by search with competition among searchers. First, the labour market process for new hires is described. The searching worker's opportunities are determined by the market parameter which is the probability that an application will not generate a job offer. The model is closed by determining the value of the market parameter given the search strategy that each worker individually follows. There exists a non-trivial eqUilibrium in steady state. At this equilibrium a social planner can improve each worker's welfare by inducing each worker to search less intensively.
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Bibliographic InfoPaper provided by University of Virginia, Department of Economics in its series Virginia Economics Online Papers with number 398.
Length: 15 pages
Date of creation: 1990
Date of revision:
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Web page: http://www.virginia.edu/economics/home.html
Find related papers by JEL classification:
- J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search
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- John M. Barron & Otis W. Gilley, 1979. "The effect of unemployment insurance on the search process," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 32(3), pages 363-366, April.
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