Showing 1 - 10 of 518
This paper extends the job market signaling model of Spence (1973) by allowing firms to learn the ability of their … employees over time. Contrary to the model without employer learning, we find that the Intuitive Criterion does not always … uncertain about their productivity, the separating level of education is ambiguously related to the speed of employer learning …
Persistent link: https://www.econbiz.de/10013324859
This paper investigates collective denial and willful blindness in groups, organizations and markets. Agents with anticipatory preferences, linked through an interaction structure, choose how to interpret and recall public signals about future prospects. Wishful thinking (denial of bad news) is...
Persistent link: https://www.econbiz.de/10013083377
In this paper, we study the impact of disclosing information about school quality of private schools in Brazil on … on school quality …
Persistent link: https://www.econbiz.de/10013046255
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 …
Persistent link: https://www.econbiz.de/10012842034
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 …
Persistent link: https://www.econbiz.de/10013087866
Instrumental variable estimation requires untestable exclusion restrictions. With policy effects on individual outcomes, there is typically a time interval between the moment the agent realizes that he may be exposed to the policy and the actual exposure or the announcement of the actual...
Persistent link: https://www.econbiz.de/10012777599
In many markets, sellers advertise their good with an asking price. This is a price at which the seller is willing to take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the...
Persistent link: https://www.econbiz.de/10013087422
We provide the first estimates of the extent of common ownership of competing firms in Australia. Combining data on market shares and substantial shareholdings, we calculate the impact of common ownership on effective market concentration. Among firms where we can identify at least one owner, 31...
Persistent link: https://www.econbiz.de/10014031162
This paper uses matched employer-employee panel data to show that individual job satisfaction is higher when other workers in the same establishment are better-paid. This runs contrary to a large literature which has found evidence of income comparisons in subjective well-being. We argue that...
Persistent link: https://www.econbiz.de/10012775695
This study examines short-, medium-, and long-run price expectations in housing markets. We derive and test six hypothesis about the incidence, formation, and relevance of price expectations. To do so, we use data from a tailored household survey, past sale and rental offerings, satellites, and...
Persistent link: https://www.econbiz.de/10014348327