EconPapers    
Economics at your fingertips  
 

Equilibrium Directed Search with Multiple Applications

James Albrecht (), Pieter Gautier () and Susan Vroman ()

No 719, IZA Discussion Papers from Institute of Labor Economics (IZA)

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.

Keywords: job search; directed search; matching (search for similar items in EconPapers)
JEL-codes: J64 D83 J41 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge
Date: 2003-02
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Published in: Review of Economic Studies, 2006, 73 (4), 869-891

Downloads: (external link)
http://ftp.iza.org/dp719.pdf (application/pdf)

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 Application (2003) Downloads
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:iza:izadps:dp719

Ordering information: This working paper can be ordered from
IZA, Margard Ody, P.O. Box 7240, D-53072 Bonn, Germany

Access Statistics for this paper

More papers in IZA Discussion Papers from Institute of Labor Economics (IZA) IZA, P.O. Box 7240, D-53072 Bonn, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Holger Hinte ().

 
Page updated 2019-10-11
Handle: RePEc:iza:izadps:dp719