Secretary problem with competition
Two firms hire from the same applicants, and every applicant prefers firm 1. Firm 1 faces the ordinary secretary problem; firm 2's best response is to reject fewer applicants — about 23% rather than 37%.
Writing
Notes
Occasional notes on economic theory, teaching, and things I’m working through.
Corners, kinks, and the fine print of first-order conditions
Why I teach the standard optimal-choice conditions from the graph — the equation hides the differentiability, interiority, and curvature it depends on.