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An Information-Theoretic Approach to Job Quits

Wilde, Louis L. (1977) An Information-Theoretic Approach to Job Quits. Social Science Working Paper, 150. California Institute of Technology , Pasadena, CA. (Unpublished)

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This study analyzes the existence of quits as part of optimal job-shopping strategies by imperfectly informed workers. Formally this is modeled as a sequential decision problem in which jobs are assumed to be described by more than a single parameter. These multiple characteristics vary in their respective degrees of observability. Along with a characterization of the optimal strategy and a proof of the existence of a positive quit rate, comparative statics results are obtained.

Item Type:Report or Paper (Working Paper)
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Additional Information:Revised. Original dated to February 1977. I would like to thank Robert Forsythe and Steve Salop for helpful discussions of this material. A preliminary version of this paper was presented at the 1977 summer meeting of the Econometric Society in Ottawa, Canada. Published in Studies in the Economics of Search, edited by S. Lippman and J. J. McCall. Amsterdam: North-Holland, 1979.
Group:Social Science Working Papers
Series Name:Social Science Working Paper
Issue or Number:150
Record Number:CaltechAUTHORS:20171025-162756303
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Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:82689
Deposited By: Jacquelyn Bussone
Deposited On:26 Oct 2017 16:07
Last Modified:03 Oct 2019 18:57

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