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A note on waiting

Author

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  • Gautier, Pieter A.

    (Vrije Universiteit Amsterdam, Faculteit der Economische Wetenschappen en Econometrie (Free University Amsterdam, Faculty of Economics Sciences, Business Administration and Economitrics)

Abstract

When students apply to universities or unemployed workers search in the labor market, an increase of time input of one person (resulting in more applications) will increase the waiting time of the others. In this paper it will be show that in a decentralized market there will be excessive congestion Moreover, congestion increases with both the mean and the variance of the net benefits associated with waiting across the population.

Suggested Citation

  • Gautier, Pieter A., 1997. "A note on waiting," Serie Research Memoranda 0037, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    • Handle: RePEc:vua:wpaper:1997-37
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    File URL: http://degree.ubvu.vu.nl/repec/vua/wpaper/pdf/19970037.pdf
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    References listed on IDEAS

    as
    1. Mortensen, Dale T, 1982. "Property Rights and Efficiency in Mating, Racing, and Related Games," American Economic Review, American Economic Association, vol. 72(5), pages 968-979, December.
    2. Peter A. Diamond, 1982. "Wage Determination and Efficiency in Search Equilibrium," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 49(2), pages 217-227.
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    More about this item

    JEL classification:

    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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