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A new continuous-time search model. (English) Zbl 0749.90019
In the 70’s economics papers looked at job search for the discrete case. In the 80’s Zuckerman looked at job search for the continuous case. The paper under review extends the research further in the continuous case. The basic problem can be summarized by saying that one is searching (in time) for a job. This search has a cost. One wants to know when is the optimal time to stop the search and accept the most recent offer. This basic model has many physical interpretations. The author studies the case where the offer arrival rate is both a function of the time \(t\) and of the number \(i\) of offers received by time \(t\). He then discusses optimal stopping strategies.

MSC:
91B40 Labor market, contracts (MSC2010)
90B40 Search theory
60G40 Stopping times; optimal stopping problems; gambling theory
60K10 Applications of renewal theory (reliability, demand theory, etc.)
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