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This paper examines search with active learning and correlated information. We firstdevelop a simple model to show how … correlation affects the decision to acquire information.A unique data set on fishing site choice by mid-Atlantic clam fishermen is … declines, i.e., when the opportunity cost of gathering information is low, butalso when catch at familiar sites is on the rise …
Persistent link: https://www.econbiz.de/10009360920
members of an information sharingCooperative. Once collected, information about the location of productive sh-ing sites is an … excludable public good. We show that independent shermen donot internalize the full value of information and do not replicate rst …-best searchpatterns. An information sharing Cooperative faces a free-riding problem as eachmember prefers that another undertake costly …
Persistent link: https://www.econbiz.de/10009360718
to predictable marginal cost changes, as expected from the Mankiwand Reis (2002) Sticky Information Model. We …nd that... …
Persistent link: https://www.econbiz.de/10005866459
We discuss long-run growth in an economy which is subject toaggregate productivity shocks affecting all factors of production. Wedemonstrate that the presence of labor income risk unambiguously isan important determinant of long-run expected growth. The issue ofdynamic inefficiency of the...
Persistent link: https://www.econbiz.de/10005867611
This paper contributes to recent research on work organization as a key success factor.
Persistent link: https://www.econbiz.de/10005840948
In an equilibrium model of the labor market, workers and firms enter intodynamic contracts that can potentially last forever, but are subject to optimalterminations. Upon termination, the firm hires a new worker, and the workerwho is terminated receives a termination contract from the firm and...
Persistent link: https://www.econbiz.de/10009360882
which explicitly accountsfor the role of the lifecycle as well as search and matching frictions in the labor market. In our …
Persistent link: https://www.econbiz.de/10009418930
and matching in the labor market. The lifecycle of workers in conjunction with frictions in the labor market produces an …
Persistent link: https://www.econbiz.de/10009418937
and (b) information issued bythe National Institute of Statistics. Information collected concerned 45 firms spanning …
Persistent link: https://www.econbiz.de/10009486991
We construct an equilibrium random matching model of the labour market, withendogenous market participation and a … general matching technology that allows formarket size effects: the job-finding rate for workers and the incentives for … participationchange with the level of unemployment. In comparison to standard modelswith constant returns to scale in matching, agent …
Persistent link: https://www.econbiz.de/10005870139