It is generally found that those who are willing to change jobs earn greater amounts of money.

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It is generally found that those who are willing to change jobs earn greater amounts of money. Essentially, these people apply for alternative jobs on a regular basis and change jobs when they receive better offers than their current employment. However, a relatively small percentage of employed workers ever seek other jobs unless they are informed they might lose their job. Using the terminology and models of behavioral economics, explain why such a small percentage of employees would actively look for alternative jobs when they are secure in their employment. Additionally, consider employees who are informed that they might lose their job shortly. Considering that the potential job loss is not based on performance but is based rather on the structural conditions of the firm, they might expect to earn more upon finding a new job. What does the endowment effect have to say regarding how the employee values the outcome of the job hunt before and after finding their new job?
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