Efficiency of thin and thick markets
By: Li Gan, Qi Li.
Contributors: Li, Qi.; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10815; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10815.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Job hunting -- Mathematical models.; Labor market -- Mathematical models.; Efficient market theory -- Mathematical models.
Description: "In this paper, we propose a matching model to study the efficiency of thin and thick markets.  Our model shows that the probabilities of matches in a thin market are significantly lower than those in a thick market.  When applying our results to a job search model, it implies that, if the ratio of job candidates to job openings remains (roughly) a constant, the probability that a person can find a job is higher in a thick market than in a thin market.  We apply our matching model to the U.S.  academic market for new PhD economists.  Consistent with the prediction of our model, a field of specialization with more job openings and more candidates has a higher probability of matching"--National Bureau of Economic Research web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 1/7/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.