期刊名称：Discussion Papers in Economics / Department of Economics, Royal Holloway
出版年度：2004
卷号：2004
出版社：University of London
摘要：We analyze the Spence education game in experimental markets. We compare a signaling
and a screening variant, and we analyze the e¤ect of increasing the number of employers from two
to three. In all treatments, there is a strong tendency to separate. More e¢cient workers invest
more often and employers bid higher for workers who have invested. More e¢cient workers also
earn higher wages. Employers’ pro…ts are usually not di¤erent from zero. Increased competition
leads to higher wages only in the signaling sessions. We …nd that workers in the screening sessions
invest more often and earn higher wages when there are two employers.
