ECON MICRO
5th Edition
ISBN: 9781337000536
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 14, Problem 4.9P
To determine
The signaling and screening functions in the labor markets.
Concept Introduction:
Signaling refers to the exchange of information between parties, where one party credibly conveys some internal information to another party (principal). Screening is a way of reducing adverse selection problems, decisions are taken by the parties with more information than the others.
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