This paper considers competitive search equilibrium in a market for a good whose quality differs across sellers. Each … seller knows the quality of the good that he or she is offering for sale, but buyers cannot observe quality directly. We thus … unique equilibrium, which is separating. Higher-quality sellers post higher prices, so price signals quality. The arrival …

increases utility. It is assumed that each variety is owned by a monopoly. Workers can specialize in material goods production … bliss point can only be made better-off by an increase in diversity. If wages are set by monopoly unions rather than set …

private returns to education within the employer learning framework of Farber and Gibbons [1996] and Altonji and Pierret [2001 … and 30% to education signaling workers' ability. …

Job seekers often face substantial information frictions related to potential job quality. This is especially true in … in Indonesia to explore how information about intermediary quality shapes migration choices and outcomes. Information … reduces the migration rate, lowering use of low-quality intermediaries. However, workers who migrate receive better pre …

Research on employer learning has provided important insights into the dynamic process that determines individual wages …, especially during the early part of a worker's career. However, the recent evidence on the absence of employer learning for … learning model with the theory of rational inattention introduced by Sims (2006). In the model firms optimally allocate …

The Australian Government launched the My School website in 2010 to provide standardised information about the quality … Victoria to estimate the effect of the publication of school quality information on property prices. We use a difference …-in-difference approach to estimate the causal effect of the release of information about high-quality and low-quality schools relative to …

Employer learning about workers' abilities plays a key role in determining how workers sort into jobs and are … compensated. This study explores whether learning is symmetric or asymmetric, i.e., whether potential employers have the same … information about worker ability as the incumbent firm. I develop a model of asymmetric learning that nests the symmetric learning …