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Hiring Through Referrals in a Labor Market with Adverse Selection
Dariel, Aurelie - 2019
Information asymmetries can prevent markets from operating efficiently. An important example is the labor market, where employers face uncertainty about the productivity of job candidates. We examine theoretically and with laboratory experiments three key questions related to hiring via...
Persistent link: https://www.econbiz.de/10012870195
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Hiring Through Referrals in a Labor Market with Adverse Selection
Dariel, Aurelie - 2019
Information asymmetries can prevent markets from operating efficiently. An important example is the labor market, where employers face uncertainty about the productivity of job candidates. We examine theoretically and with laboratory experiments three key questions related to hiring via...
Persistent link: https://www.econbiz.de/10012871752
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Meet the lemons : An experiment on how cheap-talk overcomes adverse selection in decentralized markets
Siegenthaler, Simon - 2017
substantially higher efficiency level than the adverse selection benchmark. The partially separating equilibrium hinges on the … theoretical predictions of the partially separating equilibrium: communication is informative and improves efficiency compared to …
Persistent link: https://www.econbiz.de/10012969275
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Competition and Price Transparency in the Market for Lemons : Experimental Evidence
Bochet, Olivier - 2020
theoretical predictions, we find that competition promotes efficiency if bargainers cannot observe each other's price offers …. Contrary to the predictions, however, the efficiency-enhancing effect of competition persists even when offers are observable …, implementing the strategy method improves subjects' conditional reasoning, delivering the predicted loss in efficiency when offers …
Persistent link: https://www.econbiz.de/10012854487
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The revelation and delegation principles in common agency games
Martimort, David; Stole, Lars A. - 2001
In the context of common agency adverse-selection games weillustrate that the revelation principle cannot be applied to studyequilibria of the multi-principal games. We then demonstrate thatan extension of the taxation principle what we term the delegation principle can be used to characterize...
Persistent link: https://www.econbiz.de/10011400675
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Contractual externalities and common agency equilibria
Martimort, David; Stole, Lars A. - 2001
This paper characterizes the equilibrium sets of an intrinsic common agency game with direct exter-nalities between principals both under complete and asymmetric information. Direct externalities arise when the contracting variable of one principal affects directly the other principal s payoff....
Persistent link: https://www.econbiz.de/10011400799
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Better Later than Never? An Experiment on Bargaining under Adverse Selection
Bochet, Olivier - 2019
.e., bargaining takes longer than theoretically predicted. This lowers efficiency below its predicted level and below the level … detrimental to the efficiency of bargaining under incomplete information …
Persistent link: https://www.econbiz.de/10012903330
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Referral Hiring and Wage Formation in a Market with Adverse Selection
Dariel, Aurelie; Riedl, Arno; Siegenthaler, Simon - 2021
The widespread use of employee referrals raises questions regarding how they affect labor market outcomes: Does referral hiring lead to a more efficient allocation of workers compared to when hiring is possible only on a competitive market? To utilize the social links of their current employees,...
Persistent link: https://www.econbiz.de/10013245935
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Hiring through referrals in a labor market with adverse selection
Dariel, Aurelie; Riedl, Arno; Siegenthaler, Simon - 2019
Information asymmetries can prevent markets from operating efficiently. An important example is the labor market, where employers face uncertainty about the productivity of job candidates. We examine theoretically and with laboratory experiments three key questions related to hiring via...
Persistent link: https://www.econbiz.de/10012001362
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Hiring through referrals in a labor market with adverse selection
Dariel, Aurelie; Riedl, Arno; Siegenthaler, Simon - 2019
Information asymmetries can prevent markets from operating efficiently. An important example is the labor market, where employers face uncertainty about the productivity of job candidates. We examine theoretically and with laboratory experiments three key questions related to hiring via...
Persistent link: https://www.econbiz.de/10011997078