Efficiency of Simultaneous Search

@inproceedings{Kircher2009EfficiencyOS,
  title={Efficiency of Simultaneous Search},
  author={Philipp Kircher},
  year={2009}
}
This paper presents an equilibrium labor search model in which workers can simultaneously apply to multiple firms to increase their search intensity. They observe firms’ wage postings before choosing where to apply. Owing to coordination frictions, a firm may not receive any applications; otherwise it is able to hire unless all its applicants have better offers. It is shown that the equilibrium converges to the efficient Walrasian outcome as application costs vanish. Even for nonnegligible… CONTINUE READING
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