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Great Job again!

Before deciding your preferred one, let's first calculate payoffs you would have for each job offer.

Number 1: 1*(21-1)=20

Number 2: 5*(21-11)=50

Number 3: 7*(21-13)=56

Number 4: 8*(21-15)=48

Number 5: 10*(21-18)=30

Number 3 has the highest payoffs than any other.

In other words, getting job too early or too late might not bring you the highest payoff.

Also, do not afraid of not finding the job in the first few rounds. You still have many rounds to go.

You will proceed to the next page only after you answer the next question correctly.

(You can see instructions again here after clicking the instruction button.)

Which one of the following reservation wage and sample size combo would you prefer if you do not have any Unemployment Insurance benefit?

The probability of getting the job offer with your current reservation wage, W and sample size, N is: 1-[1-(0.02*(11-W)]^N

Number 1: Reservation Wage at 1 Point and Sample Size at 5 in 1st round

Number 2: Reservation Wage at 4 Points and Sample Size at 4 in 2nd round

Number 3: Reservation Wage at 6 Points and Sample Size at 3 in 3rd round

Number 4: Reservation Wage at 8 Points and Sample Size at 2 in 4th round

Number 5: Reservation Wage at 10 Points and Sample Size at 1 in 5th round





Suppose you have just lost your job, and now you are looking for a new job. In this process, you should consider:

  1. The minimum wage you are willing to accept.
  2. How much effort you would put in looking for jobs. (How many jobs you will look for.)

You will be able to look for jobs for 20 rounds.

  1. If you fail to find a job in one round, you move to the next.
  2. Once you find the job, the job search will end.
    1. Your earnings from new job equals to the wage rate multiplied by the rest of rounds (including the current round).

Let us think about what you have when looking for jobs:

  1. You have some money in your account that you borrow from others. (You have to return them after finishing job search)
  2. Looking for jobs has a cost, and the cost depends on how many jobs you are looking for.
  3. You may have Unemployment Insurance benefit for a period of time, and the amount and duration will vary.
    1. However,you won't have Unemployment Insurance anymore if you find a new job.

Finally, your earned points will be converted into U.S. dollars and rounded into integer (10 points = 1 dollar).

Any negative point will be converted into 0 finally.



Number of Jobs 0 1 2 3 4 5
Cost 0 point 2 points 5 points 10 points 18 points 30 points
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