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This paper studies the phenomenon of early hiring in entry-level labor markets (e.g. the market for gastroenterology fellowships and the market for judicial clerks) in the presence of social networks. We offer a two-stage model in which workers in training institutions reveal information on...
Persistent link: https://www.econbiz.de/10008669960
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
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
Estimates on the effect of job contact method - i.e., informal versus formal search - on wage offers vary considerably across studies, with some of them finding a positive correlation between getting help from informal connections and obtaining high-paying jobs, while others finding a negative...
Persistent link: https://www.econbiz.de/10011407932
We study learning and influence in a setting where agents communicate according to an arbitrary social network and naively update their beliefs by repeatedly taking weighted averages of their neighbors' opinions. A focus is on conditions under which beliefs of all agents in large societies...
Persistent link: https://www.econbiz.de/10014049685
Individual and organizational actors enter into a large number of relationships that include benefiting others without ensuring the equality of reciprocal benefits. We suggest that actors have evolved mechanisms that guide them in the choice of exchange partners, even without conscious...
Persistent link: https://www.econbiz.de/10014027213
This paper investigates opinion dynamics and social influence in directed communication networks. We study the theoretical properties of a boundedly rational model of opinion formation in which individuals aggregate the information they receive from their neighbors by using weights that are a...
Persistent link: https://www.econbiz.de/10010510796
This paper investigates opinion dynamics and social influence in directed communication networks. We study the properties of a generalized boundedly rational model of opinion formation in which individuals aggregate the information they receive by using weights that are a function of their...
Persistent link: https://www.econbiz.de/10014037691
We investigate how information goods are priced and diffused over links in a network. A new equivalence relation between nodes captures the effects of network architecture and locations of sellers on the division of profits, and characterizes the topology of competing (and potentially...
Persistent link: https://www.econbiz.de/10012806313
Social networks have a profound impact on individual labor market outcomes. This paper establishes a theoretical framework where firms, workers, and applicants are linked through a social network of friendships and family links, which can be used by firms to reduce information asymmetries and...
Persistent link: https://www.econbiz.de/10013066215