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The social and the private returns to education differ when education can increase productivity, and also be used to signal productivity. We show how instrumental variables can be used to separately identify and estimate the social and private returns to education within the employer learning...
Persistent link: https://www.econbiz.de/10012162512
The social and the private returns to education differ when education can increase productivity, and also be used to signal productivity. We show how instrumental variables can be used to separately identify and estimate the social and private returns to education within the employer learning...
Persistent link: https://www.econbiz.de/10012169372
paid by the winner. We study the impact of these price-externalities on the first-price auction and the second … independently from the identity of the winner. We prove that the first-price auction is not affected by this kind of price-externalities … by the presence of such price-externalities. In any case, in comparison with the first-price auction, the second …
Persistent link: https://www.econbiz.de/10011591224
We show that bounds like those of Al-Najjar and Smorodinsky (J. Econ. Theory, 2000) as well as of Gradwohl et al. (Math …
Persistent link: https://www.econbiz.de/10009236970
We consider a general screening model with payoff externalities and type-dependent feasibility constraints. The …
Persistent link: https://www.econbiz.de/10012707951
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Adverse selection harms workers, but benefits firms able to identify talent. An informed intermediary expropriates its agents' ability by threatening to fire and expose them to undervaluation of their skill. Agents' track record gradually reduces the intermediary's information advantage. We show...
Persistent link: https://www.econbiz.de/10012842301
Motivated by some real world phenomena, we extend the standard model of decision making with a possibly biased decision maker under career concerns by adding: 1) a consultation stage in which the advice from an advisor is available; 2) the possibility that the decision maker can control the...
Persistent link: https://www.econbiz.de/10012714348
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