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Informational Matching

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  • Silvio Rendón

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Abstract

This paper analyzes the problem of matching heterogenous agents in a Bayesian learning model. One agent gives a noisy signal to another agent, who is responsible for learning. If production has a strong informational component, a phase of cross-matching occurs, so that agents of low knowledge catch up with those of higher one. It is shown that (i) a greater informational component in production makes cross-matching more likely; (ii) as the new technology is mastered, production becomes relatively more physical and less informational; (iii) a greater dispersion of the ability to learn and transfer information makes self-matching more likely; and (iv) self-matching leads to more self-matching, whereas croos-matching can make less productive agents overtake more productive ones.

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Paper provided by Universidad Carlos III, Departamento de Economía in its series Economics Working Papers with number we022105.

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Date of creation: May 2002
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Handle: RePEc:cte:werepe:we022105

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  1. Kremer, Michael, 1997. "How Much Does Sorting Increase Inequality?," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 112(1), pages 115-39, February.
  2. Fernandez, R. & Rogerson, R., 1999. "Sorting and Long-Run Inequality," Working Papers, C.V. Starr Center for Applied Economics, New York University 99-22, C.V. Starr Center for Applied Economics, New York University.
  3. Michael Kremer & Eric Maskin, 1996. "Wage Inequality and Segregation by Skill," NBER Working Papers 5718, National Bureau of Economic Research, Inc.
  4. Michael Kremer & Eric Maskin, 1996. "Wage Inequality and Segregation," Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research 1777, Harvard - Institute of Economic Research.
  5. Jovanovic, Boyan & Nyarko, Yaw, 1995. "The transfer of human capital," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 19(5-7), pages 1033-1064.
  6. Kremer, Michael, 1993. "The O-Ring Theory of Economic Development," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 108(3), pages 551-75, August.
  7. Prescott, Edward C, 1972. "The Multi-Period Control Problem Under Uncertainty," Econometrica, Econometric Society, Econometric Society, vol. 40(6), pages 1043-58, November.
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