On the leading job board CareerBuilder.com, high-wage job postings unexpectedly attract fewer applicants, and this is the case even within a detailed occupation. Viewed through the lens of our directed search model, this negative relationship is indicative of substantial applicant heterogeneity within an occupation. Empirically, we find that job title heterogeneity is key: within a job title, jobs with 10% higher wages do attract 7.7% more applicants. Furthermore, our findings are consistent with a higher return to worker quality for hires in “manager” and “senior” job titles. Overall, our findings demonstrate the power of words in the matching process.

中文翻译：

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打开匹配功能的黑匣子：文字的力量

在领先的求职网站CareerBuilder.com上，高薪职位空缺出乎意料地吸引了更少的求职者，即使在详细的职业中也是如此。从我们的定向搜索模型的角度来看，这种负相关关系表明某个职业中申请人的实质异质性。根据经验，我们发现职务异质性是关键：在职务中，工资高10％的工作确实吸引了7.7％的求职者。此外，我们的发现与“经理”和“高级”职位的员工的劳动质量回报更高有关。总体而言，我们的发现证明了单词在匹配过程中的力量。