Julien, Benoit; Kennes, John; King, Ian - In: Review of Economic Dynamics 3 (2000) 4, pp. 619-649
We present a competing-auction theory of the labor market, where job candidates auction their labor services to … employers. An equilibrium matching function emerges which has many of the features commonly assumed, including constant returns … to scale in large economies. The auction mechanism also generates equilibrium wage dispersion among homogeneous workers …
