On the ambiguity of job search.
Who knows the underlying productivity distribution function? Interestingly, this ambiguous function is often referenced to make decisions including job creations, wage determinations, contract formulations, etc. To investigate how ambiguity shapes labor markets, we integrate ambiguity preferences in...
| Published in: | Economic Inquiry Vol. 61; no. 4; pp. 1006 - 1034 |
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| Main Authors: | , |
| Format: | Article |
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Wiley-Blackwell
Oct2023
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| Subjects: | |
| Online Access: | View this record in EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=171312686&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 171312686 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00952583 EIQ jtl: Economic Inquiry issn: 00952583 maglogo: Y pubinfo: dt: Oct2023 vid: 61 iid: 4 pid: 480 pub: Wiley-Blackwell artinfo: ui: 171312686 10.1111/ecin.13150 ppf: 1006 ppct: 28 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 1.3MB tig: atl: On the ambiguity of job search. aug: au: Chan, Ying Tung Yip, Chi Man affil: Bay Area International Business School, Beijing Normal University, Zhuhai, China School of Accounting and Finance, The Hong Kong Polytechnic University, Hong Kong, China su: Job hunting Employment policy Distribution (Probability theory) Ambiguity Unemployment statistics sug: subj: Job hunting Employment policy Distribution (Probability theory) Ambiguity Unemployment statistics keyword: ambiguity aversion skewness shocks unemployment ambiguity aversion skewness shocks unemployment ab: Who knows the underlying productivity distribution function? Interestingly, this ambiguous function is often referenced to make decisions including job creations, wage determinations, contract formulations, etc. To investigate how ambiguity shapes labor markets, we integrate ambiguity preferences into the Diamond‐Mortensen‐Pissarides (DMP) model. We find that ambiguity‐averse job‐ and talent‐hunters are conservative. Our quantitative analysis indicates that but for the ambiguity, the American unemployment rate would have increased in the postwar era. This paper generalizes the DMP model, enhances our understanding of the labor market, and calls for policies concerning labor market information. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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