When students receive better grades without any corresponding increase in ability, this is called grade inflation …. Introducing a concern for reputation into an established signalling model of grading, we show that this mechanism reduces or even …

When grades lose their informative value because the percentage of students receiving the best grade rises without any …

We analyze a college admissions game with asymmetric information between students and colleges. Students' preferences … for colleges depend on the observable quality of the schools. In contrast, colleges' preferences for students depend on … the latter's abilities, which are private information. Students and schools are matched via a decentralized mechanism in …