1. Introduction -- 1. Subject Matter -- 2. Previous Work -- 3. Choice in Labor Markets -- 4. Outline of Remaining Chapters -- 2. Search in Labor Markets -- 1. Introduction -- 2. Worker Search Behavior -- 3. Impacts of Labor Market Conditions -- 4. Extensions -- 5. Distributions of Workers and...

The paper provides a new model of consumption behavior under uncertainty as the solution to a continuous-time dynamic control problem in which an individual moves between employment and unemployment according to a Markov process. Behavior at low asset levels and at break-even points is analyzed....

A model of equilibrium unemployment and vacancies is presented in which the absence of a market for interviews can yield externalities and inefficiency. Inefficiency results in market forces that lead firms to charge fees for interviews or to change the wage rate. These market forces require...

In this article, a market for access to trading partners arises through the operation of a competitive market in which consumers queue for goods at firms. Equilibrium occurs when firms and buyers face the same trade-off between price and wait time. The trade-off measures the cost to firms of...