environment; in fact, multiple equilibria emerge and expectations may play a key role in equilibrium selection. In this paper, we … expectations at the beginning of transition and success of the transition process. We provide the first comprehensive survey of the …

. The intervention generates few hires, but it lowers participants' expectations and causes both firms and workers to invest … a unique two-sided belief-elicitation survey, we confirm that firms and jobseekers have over-optimistic expectations …