Asymmetric information, strategic behavior, and discrimination in the labor market
AbstractThe neoclassical model of labor market discrimination assumes the presence of either prejudiced preferences, biased assessments of worker productivity, or monopsony power. We show that when market agents control asymmetric information, strategic behavior can induce discriminatory hiring practices even when these market features are absent. Moreover, strategic interaction many distort public policies to the point of harming the segments of the work force they were designed to support.
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Bibliographic InfoArticle provided by Springer in its journal Economic Theory.
Volume (Year): 10 (1997)
Issue (Month): 1 ()
Note: Received: January 3, 1996 revised version April 29, 1996
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Web page: http://link.springer.de/link/service/journals/00199/index.htm
Find related papers by JEL classification:
- J71 - Labor and Demographic Economics - - Labor Discrimination - - - Hiring and Firing
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
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- Monks, James, 2000. "The returns to individual and college characteristics: Evidence from the National Longitudinal Survey of Youth," Economics of Education Review, Elsevier, vol. 19(3), pages 279-289, June.
- Robert S. Chase, 2001. "Labor Market Discrimination During Post-Communist Transition: A Monopsony Approach to the Status of Latvia's Russian Minority," William Davidson Institute Working Papers Series 381, William Davidson Institute at the University of Michigan.
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