A Large Population, Game Theoretic Model Of Job-Search With Discounting
This paper considers a large population, game theoretic job-search problem, in which the ratio of job searchers to jobs is α. There are n distinct types of jobs, each with an associated value. Each searcher can only accept one job and cannot recall a job previously rejected. Once a searcher accepts a job, no other searcher can obtain that particular job. The reward to a searcher is taken to be the value of the job he/she obtains discounted by a factor of e-γt, where t is the time spent searching and γ > 0. It is shown that a unique evolutionarily stable strategy (ESS) exists for such problems. Two iterative algorithms for approximating the ESS are considered. In the case where there are only two types of job, the ESS can be calculated directly.
Volume (Year): 11 (2009)
Issue (Month): 03 ()
|Contact details of provider:|| Web page: http://www.worldscinet.com/igtr/igtr.shtml|
|Order Information:|| Email: |
When requesting a correction, please mention this item's handle: RePEc:wsi:igtrxx:v:11:y:2009:i:03:p:301-320. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Tai Tone Lim)
If references are entirely missing, you can add them using this form.