Job search with related information and wage signalling (Q1092781)
From MaRDI portal
scientific article
Language | Label | Description | Also known as |
---|---|---|---|
English | Job search with related information and wage signalling |
scientific article |
Statements
Job search with related information and wage signalling (English)
0 references
1986
0 references
The paper uses multi-armed bandit methods to characterize the optimal policy of the job search problem with belated information, that is, if the non-pecuniary aspects of the job is discerned only after the job has been tested for one period. There is given a sufficient condition such that the `reservation wage property' for the optimal search policy remains preserved even if a job searcher believes in a positive resp. negative correlation between the wage rate \((=\) pecuniary aspect) and the job quality \((=\) non-pecuniary aspect) offered by a firm.
0 references
multi-armed bandit
0 references
optimal policy of the job search
0 references
belated information
0 references
reservation wage property
0 references
optimal search policy
0 references