Suppose in the one-sided search model that an unemployed worker receives a wage offer with probability .Then,
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Suppose in the one-sided search model that an unemployed worker receives a wage offer with probability π.Then, conditional on receiving a wage offer, the offer is w2 with probability α2, w3 with probability α3, and zero with probability 1 – α2 – α3, where 0 < w2 < w3. Determine under what conditions an unemployed worker would turn down a wage offer of w2, accepting a wage offer of w3, and under what conditions an unemployed worker would accept any wage offer greater than zero. Interpret these conditions.
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The unemployed worker would turn down a wage offer of w 2 and accept a wage offer of w 3 if 2 3 ...View the full answer
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