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dc.contributor.authorChung, Kim-Sauen_US
dc.contributor.authorEső, Péteren_US
dc.date.accessioned2010-05-14T10:18:56Z-
dc.date.available2010-05-14T10:18:56Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/31217-
dc.description.abstractConsider an agent (manager, artist, etc.) who has imperfect private information about his productivity. At the beginning of his career (period 1, short run”), the agent chooses among publicly observable actions that generate imperfect signals of his productivity. The actions can be ranked according to the informativeness of the signals they generate. The market observes the agent’s action and the signal generated by it, and pays a wage equal to his expected productivity. In period 2 (the long run”), the agent chooses between a constant payoff and a wage proportional to his true productivity, and the game ends. We show that in any equilibrium where not all types of the agent choose the same action, the average productivity of an agent choosing a less informative action is greater. However, the types choosing that action are not uniformly higher. In particular, we derive conditions for the existence of a tripartite equilibrium where low and high types pool on a less informative action while medium (on average, lower) types choose to send a more informative signal.en_US
dc.language.isoengen_US
dc.publisherNorthwestern Univ., Kellogg Graduate School of Management, Center for Mathematical Studies in Economics and Management Science Evanstonen_US
dc.relation.ispartofseriesDiscussion paper // Center for Mathematical Studies in Economics and Management Science 1443en_US
dc.subject.jelD82en_US
dc.subject.jelD86en_US
dc.subject.ddc330en_US
dc.subject.keywordsignallingen_US
dc.subject.keywordcareer concernsen_US
dc.subject.stwArbeitsproduktivitäten_US
dc.subject.stwSignallingen_US
dc.subject.stwAsymmetrische Informationen_US
dc.subject.stwVertragstheorieen_US
dc.titleSignalling with career concernsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn587537922en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Discussion Papers, Kellogg School of Management, Northwestern University

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