Perter Diamond, Ph. D. , M.I.T., won the Nobel Prize in Economics in 2010 for “discovering” the same thing. From the Nobel press release:
“This year’s three Laureates have formulated a theoretical
framework for search markets. Peter Diamond has analyzed
the foundations of search markets. Dale Mortensen
and Christopher Pissarides have expanded the theory
and have applied it to the labor market. The Laureates’
models help us understand the ways in which unemployment,
job vacancies, and wages are affected by regulation
and economic policy. This may refer to benefit levels in
unemployment insurance or rules in regard to hiring
and firing. One conclusion is that more generous unemployment
benefits give rise to higher unemployment and
longer search times.”http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/2010/press.pdf