Directed search with multiple job applications

Manolis Galenianos and Philipp Kircher

Journal of Economic Theory, 2009, vol. 144, issue 2, 445-471

Abstract: We develop an equilibrium directed search model of the labor market where workers can simultaneously apply for multiple jobs. Our main theoretical contribution is to integrate the portfolio choice problem faced by workers into an equilibrium framework. All equilibria of our model exhibit wage dispersion. Consistent with stylized facts, the density of wages is decreasing and higher wage firms receive more applications per vacancy. Unlike most models of directed search, the equilibria are not constrained efficient.

Keywords: Directed; search; Multiple; applications; Portfolio; choice (search for similar items in EconPapers)
Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (159)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0022-0531(08)00089-6
Full text for ScienceDirect subscribers only

Related works:
Working Paper: Directed search with multiple job applications (2009)
Working Paper: Directed Search with Multiple Job Applications (2005)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:144:y:2009:i:2:p:445-471

Access Statistics for this article

Journal of Economic Theory is currently edited by A. Lizzeri and K. Shell

More articles in Journal of Economic Theory from Elsevier
Bibliographic data for series maintained by Catherine Liu ().