{% extends "global/Page.html" %} {% load otree static %} {% block title %} Job Search -- Example {% endblock %} {% block content %}

Here is an example:

You need to decide your minimum wage and number of jobs you will apply.

If you choose minimum wage at 5, and number of jobs at 3, you would then roll dice for each job.

To simplify the process, we recode each failure as 0, and recode each job offer you got with its wage rate.

Suppose you got 2 jobs out of 3. The wage rates are 4 and 6. Your results are shown as [0, 4, 6].

Since 6 is the highest, you accept the job offer with wage rate at 6.

Suppose you are in Round 3, and your current earning so far is $190.

Your subsidy this round is $5. Your job search cost is $10.

Your payoff from new job is wage rate multiplied by the rest of rounds (including the current round):6*18=$108.

Your total payoff is 5 + 108 - 10 = $103.

your total earning so far is 190 + 103 = $293.

You will earn $293 in this trial.

{% formfields %}
{% endblock %}