The paper examines how asymmetric information affects the supply of entrepreneurs and the level of unemployment. The … find that credit rationing may increase the number of entrepreneurs and the level of unemployment. The second source of … entrepreneurs. The paper first examines the implications of asymmetric information for the level of unemployment and an individual …

We examine how three sources of asymmetric information affect the supply of entrepreneurs and unemployment. In the … entrepreneurs and the level of unemployment. In the second case, firms cannot observe workers' effort, so they offer a wage above … the market clearing one. This results in unemployment and too few entrepreneurs. The final case arises when firms cannot …

narrative on efficiency wage and x-efficiency theory (includes the importance of fairness) (iii) building upon x-efficiency and … efficiency wage theory to better understand the demand side of the labor market (iv) discussing some of the cognitive …