Education and Job Market Signalling: A Comment
AbstractIn this paper the Signalling approach to the explanation of wage differentials is analyzed both under a microeconomic and a macroeconomic viewpoint. Departuring from the classical Spence's model, the introduction of inequalities in accessing to education leads to redistributive effects among workers and firms. Moreover the existence of factors related both to local and to parental externalities greately reduce the informative power of education about individual ability.
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Bibliographic InfoPaper provided by EconWPA in its series Game Theory and Information with number 9704002.
Length: 23 pages
Date of creation: 17 Apr 1997
Date of revision:
Note: Type of Document - PDF; prepared on IBM PC ; to print on HP Laser; pages: 23; figures: included
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Signalling Earnings distribution Entropy;
Find related papers by JEL classification:
- D30 - Microeconomics - - Distribution - - - General
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Joseph E. Stiglitz, 1973.
"The Theory of 'Screening', Education, and the Distribution of Income,"
Cowles Foundation Discussion Papers
354, Cowles Foundation for Research in Economics, Yale University.
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- Engers, Maxim, 1987. "Signalling with Many Signals," Econometrica, Econometric Society, vol. 55(3), pages 663-74, May.
- Andrew Weiss, 1995. "Human Capital vs. Signalling Explanations of Wages," Journal of Economic Perspectives, American Economic Association, vol. 9(4), pages 133-154, Fall.
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- Banks, Jeffrey S. & Sobel, Joel., 1985.
"Equilibrium Selection in Signaling Games,"
565, California Institute of Technology, Division of the Humanities and Social Sciences.
- Cho, In-Koo & Sobel, Joel, 1990. "Strategic stability and uniqueness in signaling games," Journal of Economic Theory, Elsevier, vol. 50(2), pages 381-413, April.
- Spence, A Michael, 1973. "Job Market Signaling," The Quarterly Journal of Economics, MIT Press, vol. 87(3), pages 355-74, August.
- Gonzalo Olcina Vauteren & Luisa Escriche, 2006. "Education And Family Income: Can Poor Children Signal Their Talent?," Working Papers. Serie AD 2006-20, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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