Economics of Information and Job Search.¶
McCall, J. J. (1970). Economics of Information and Job Search. Quarterly Journal of Economics, 84(1), 113-126.
Cited by¶
2 citations across 2 artifacts.
Each citation links to the sentence it supports in the citing article.
Primes¶
- Optimal Stopping Rule
- And in stationary job search, the reservation wage is the boundary: accept the first offer above it, where the threshold is set so the marginal cost of one more search round equals its expected gain.
This sourceEstablishes the reservation-wage stopping rule for stationary job search: accept any offer above a single critical wage, reject the rest.
- And in stationary job search, the reservation wage is the boundary: accept the first offer above it, where the threshold is set so the marginal cost of one more search round equals its expected gain.
Mechanisms¶
- Bid Acceptance Cutoff
- Setting a reservation price in advance is the standard search-theory discipline
This sourceDerives an optimal search policy that rejects offers below a critical value and accepts those above it.
- Setting a reservation price in advance is the standard search-theory discipline
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