firm and for the manager. A parsimonious model of matching and incentive provision generates an array of implications that … isolation, can instead be interpreted within a simple unified matching framework …

Unemployment arises from frictions in the matching of job-seekers and employers. The level of resources that employers …

markets in which agents have aligned preferences. When agents have complete information or when there are no frictions in the …

Economists argue that rich information environments and formal enforcement of contracts are necessary to prevent market … failures when information asymmetries exist. We test for the necessity of formal enforcement to overcome the problems of … asymmetric information by estimating the value of information in an illegal market with a particularly rich information structure …

years. In this paper we present new information on its extent and effects. We show that the trend is general: a large number …

-quality As. After examining potential explanations, we believe the observed pattern is best explained by a mixture of signaling …

motivations. Combining price variation with information on the use of the card sheds light on the magnitude of the demand for …

Information about the success of a new technology is usually held asymmetrically between the research and development … where information asymmetries may be particularly high and collateral value is low. Larger firms are not only less subject …

Spence (1973) model of job market signaling, firms have access to direct but imperfect information about worker types, in …We study competitive equilibrium in a signaling economy with heterogeneously informed buyers. In terms of the classic … addition to observing their education. Firms can be ranked according to the quality of their information, i.e. their expertise …