labour market overview firms post job offers (i.e, wages)

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Presentation transcript:

labour market overview firms post job offers (i.e, wages) one offer at a time per firm a worker can accept at most one job offer labour market www.moblab.com 9A Playground for Decisions 9

firm’s screen value of next worker hired 9 labour market www.moblab.com 9A Playground for Decisions 9

firm’s screen wages offers accepted this round 9 labour market www.moblab.com 9A Playground for Decisions 9

firm’s screen highest current offers 9 labour market www.moblab.com 9A Playground for Decisions 9

firm’s screen choose a wage 9 labour market www.moblab.com 9A Playground for Decisions 9

firm’s screen press to make offer at indicated wage 9 labour market www.moblab.com 9A Playground for Decisions 9

firm’s screen so far, this round 9 labour market www.moblab.com 9A Playground for Decisions 9

worker’s screen what you give up by accepting a job 9 labour market www.moblab.com 9A Playground for Decisions 9

worker’s screen highest current offers 9 labour market www.moblab.com 9A Playground for Decisions 9

worker’s screen press to accept highest current offer 9 labour market www.moblab.com 9A Playground for Decisions 9

worker’s screen wage offers accepted this round 9 labour market www.moblab.com 9A Playground for Decisions 9

labour market happy playing! firm payoffs worker payoffs from each hire: payoff = Revenue from Worker – wage entire round: sum of payoffs from each hire worker payoffs accepts a job: payoff = wage does not accept a job: payoff = Stay Home Value + Unemployment Insurance happy playing! labour market www.moblab.com 9A Playground for Decisions 9

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