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Equilibrium Directed Search with Multiple Application

James Albrecht, Pieter Gautier, & Susan Vroman
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James Albrecht, Pieter Gautier, & Susan Vroman: Department of Economics, Georgetown University, http://www9.georgetown.edu/faculty/vromans/

Authors registered in the RePEc Author Service: Pieter Gautier (), Susan Vroman () and James Albrecht ()

Working Papers from Georgetown University, Department of Economics

Abstract: We analyze a model of directed search in which unemployed job seekers observe all posted wages. We allow for the possibility of multiple applications by workers and ex post competition among vacancies. For any number of applications, there is a unique symmetric equilibrium in which vacancies post a common wage. When workers apply to only one vacancy, a single wage is paid and the resulting equilibrium is efficient. When workers make multiple applications, there is dispersion in wages paid, and equilibrium may be inefficient. We show that our results also hold in a steady-state version of the model.

JEL-codes: J64 D83 J41 (search for similar items in EconPapers)
Date: 2003-03-02
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Related works:
Journal Article: Equilibrium Directed Search with Multiple Applications (2006) Downloads
Working Paper: Equilibrium Directed Search with Multiple Applications (2004) Downloads
Working Paper: Equilibrium Directed Search with Multiple Applications (2004) Downloads
Working Paper: Equilibrium Directed Search with Multiple Applications (2003) Downloads
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