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We present a model of the job market in which the number of workers and companies is uncertain, representing the job search activity as a Poisson game. We allow for heterogeneity of workers and companies and show that in equilibrium more productive types choose higher terms of trade. The Poisson...
Persistent link: https://www.econbiz.de/10014076808
This paper presents a model of the jobmarket in which the number of workers and companies is a Poisson random variable, as in Poisson games. The model has undominated equilibria that share some properties with directed search, while preserving some erratic elements typical of random search
Persistent link: https://www.econbiz.de/10014095800