Silver Signals: Twenty-Five Years of Screening and Signaling
Riley, JohnG. 2001. "Silver Signals: Twenty-Five Years of Screening and Signaling."
Journal of Economic Literature,
The theory of market signaling and screening is a cornerstone of the new economics of information. The last two and a half decades have not only witnessed a series of remarkable theoretical developments but also a wide range of applications. This essay examines the key theoretical issues and explores their use in three major fields: industrial organization, labor, and finance. Considerable emphasis is placed on attempts to test the theory in each of these fields.
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Riley, John G. (UCLA)
D82: Asymmetric and Private Information
C70: Game Theory and Bargaining Theory: General