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Career Concerns, Matching, And Optimal Disclosure Policy

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  • Arijit Mukherjee

Abstract

Raiders may suffer from information disadvantage since the current employer is often better informed about his workers' quality. When workers have career concerns and matching influences productivity, the initial employer can strategically disclose information to influence incentives and matching efficiency. Long-term complete contracts induce full disclosure when raiders are perfectly competitive. The optimal short-term contract induces full disclosure if raiders are perfectly competitive, and the workers are risk neutral and are not liquidity constrained. These conditions are not only sufficient but also "almost necessary" for full disclosure. Partial disclosure may be optimal if any of these conditions is relaxed. Copyright � (2008) by the Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

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Bibliographic Info

Article provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.

Volume (Year): 49 (2008)
Issue (Month): 4 (November)
Pages: 1211-1250

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Handle: RePEc:ier:iecrev:v:49:y:2008:i:4:p:1211-1250

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Cited by:
  1. Calzolari, Giacomo & Pavan, Alessandro, 2007. "Sequential Contracting with Multiple Principals," CEPR Discussion Papers 6562, C.E.P.R. Discussion Papers.
  2. Marc Blatter & Andras Niedermayer, 2008. "Informational Hold-Up, Disclosure Policy, and Career Concerns on the Example of Open Source Software Development," Working Papers 08-06, NET Institute, revised Sep 2008.
  3. Miriam Schütte & Philipp Christoph Wichardt, 2013. "Delegation and Interim Performance Evaluation," CESifo Working Paper Series 4193, CESifo Group Munich.
  4. Alexander K. Koch & Eloïc Peyrache, 2008. "Aligning Ambition and Incentives," Economics Working Papers 2008-16, School of Economics and Management, University of Aarhus.
  5. Stephen Eliot Hansen, 2010. "The Benefits of Limited Feedback in Organizations," Working Papers 490, Barcelona Graduate School of Economics.
  6. Koch, Alexander K. & Peyrache, Eloic, 2005. "Tournaments, Individualized Contracts and Career Concerns," IZA Discussion Papers 1841, Institute for the Study of Labor (IZA).
  7. Paul Oyer & Scott Schaefer, 2012. "Firm/Employee Matching: An Industry Study of American Lawyers," NBER Working Papers 18620, National Bureau of Economic Research, Inc.
  8. Ian Jewitt & Clare Leaver & Heski Bar-Isaac, 2007. "Information and Human Capital Management," Economics Series Working Papers 367, University of Oxford, Department of Economics.
  9. Stephen Eliot Hansen, 2010. "The benefits of limited feedback in organizations," Economics Working Papers 1232, Department of Economics and Business, Universitat Pompeu Fabra.
  10. Ján Zábojník, 2012. "Promotion tournaments in market equilibrium," Economic Theory, Springer, vol. 51(1), pages 213-240, September.
  11. Clare Leaver & Gian Luigi Albano, 2004. "Transparency, Recruitment and Retention in the Public Sector," Economics Series Working Papers 219, University of Oxford, Department of Economics.
  12. Gian Luigi Albano & Clare Leaver, 2005. "Transparency, Recuitment and Retention in the Public Sector," The Centre for Market and Public Organisation 05/132, Department of Economics, University of Bristol, UK.

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