Hiring Through Referrals in a Labor Market with Adverse Selection PDF Download
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Author: Aurelie Dariel
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Information asymmetries can prevent markets from operating efficiently. An important example is the labor market, where employers face uncertainty about the productivity of job candidates. We examine theoretically and with laboratory experiments three key questions related to hiring via referrals when employees have private information about their productivity. First, do firms use employee referrals when there are social ties between a current employee and a future employee? Second, does the existence of social ties and hiring through employee referrals indeed alleviate adverse selection relative to when social ties do not exist? Third, does the existence of social ties have spill-over effects on wages and hiring in competitive labor markets? The answers to all three questions are affirmative. However, despite the identified positive effect of employee referrals, hiring decisions fall short of the (second-best) efficient outcome. We identify risk aversion as a potential reason for this.
Author: Aurelie Dariel
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Information asymmetries can prevent markets from operating efficiently. An important example is the labor market, where employers face uncertainty about the productivity of job candidates. We examine theoretically and with laboratory experiments three key questions related to hiring via referrals when employees have private information about their productivity. First, do firms use employee referrals when there are social ties between a current employee and a future employee? Second, does the existence of social ties and hiring through employee referrals indeed alleviate adverse selection relative to when social ties do not exist? Third, does the existence of social ties have spill-over effects on wages and hiring in competitive labor markets? The answers to all three questions are affirmative. However, despite the identified positive effect of employee referrals, hiring decisions fall short of the (second-best) efficient outcome. We identify risk aversion as a potential reason for this.
Author: Adriana Debora Kugler
Publisher:
ISBN:
Category :
Languages : en
Pages : 228
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Book Description
Author: Jess Benhabib
Publisher: Newnes
ISBN: 0444537139
Category : Business & Economics
Languages : en
Pages : 1509
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Book Description
How can economists define and measure social preferences and interactions? Through the use of new economic data and tools, our contributors survey an array of social interactions and decisions that typify homo economicus. Identifying economic strains in activities such as learning, group formation, discrimination, and the creation of peer dynamics, they demonstrate how they tease out social preferences from the influences of culture, familial beliefs, religion, and other forces. Advances our understanding about quantifying social interactions and the effects of culture Summarizes research on theoretical and applied economic analyses of social preferences Explores the recent willingness among economists to consider new arguments in the utility function
Author: Ji Woong Moon
Publisher:
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Category :
Languages : en
Pages :
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Book Description
This dissertation consists of three chapters. The first chapter empirically studies the effects of job referrals in the labor market, and the second chapter provides a theoretical explanation on the empirical findings. The third chapter explores the aggregate implications of job referrals quantitatively. In the U.S labor market, a majority of workers use referrals when searching for a job, but relatively little is known about how the quality of information transmitted through referrals is determined. In the first chapter, using recent survey data, I document that the effects of referrals are different between the currently employed searchers and the unemployed. Job referrals increase wages and job-finding probability for the employed searchers, but have statistically insignificant effects for the unemployed. In the second chapter of my dissertation, I build an equilibrium model of on-the-job search and referrals to capture these patterns and use it to understand how referrals affect the aggregate labor market. A novel feature of the model is that the extent of information transmission through referrals is endogenously determined by a strategic game. In equilibrium, referrals are endogenously more informative when the match surplus for firms is low. Consequently, the employed searchers benefit more from referrals as they search for high wage jobs, and the quality of information transmitted through referrals improves during recessions. In the third chapter, I calibrate the model and quantify the effects of job referrals on the aggregate labor market. The results show that referrals increase steady-state welfare substantially about 3-5% through better match quality. Referrals increase inequality, but mostly by benefiting workers who can use social connections.
Author: Jerel E. Slaughter
Publisher: Taylor & Francis
ISBN: 1040003893
Category : Business & Economics
Languages : en
Pages : 422
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Book Description
This book provides an insightful and comprehensive summary of the field of employee recruitment. Written from a scientific evidence-based perspective, and with contributions from global experts, it reviews the relevant research in the various areas of recruitment, considers the most pressing current issues in studying recruitment topics, and designs future research agendas for the field. Organized into four sections, the text begins by presenting an overview of the study of recruitment, before moving on to demonstrate effective ways of attracting talent, covering methodology, practices, and organizational characteristics. The third section focuses on recruiting specific populations, including women, ethnic and racial minorities, college students, and employed job seekers. This book concludes by providing practical perspectives, with chapters describing how the applicant population is changing, how applicants interact with people and technology during recruitment, the interaction of applicant and organizational political ideology, and offering insights on how to design recruitment programs today and in the future. A foundational resource on employee recruitment, this is the ideal text for scholars and graduate students in industrial and organizational psychology and human resource management. It will also interest practitioners working in the area, along with executive and line managers tasked with responsibility for talent management.
Author: Orley Ashenfelter
Publisher: Elsevier
ISBN: 0444534520
Category : Business & Economics
Languages : en
Pages : 1141
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Book Description
A guide to the continually evolving field of labour economics.
Author: Jess Benhabib
Publisher: Elsevier
ISBN: 0444537074
Category : Business & Economics
Languages : en
Pages : 570
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Book Description
Through the use of new economic data and tools, the contributors survey an array of social interactions and decisions that typify homo economicus. Their work brings order to the sometimes conflicting claims that countries, environments, beliefs, and other influences make on our economic decisions.
Author: Bo Honoré
Publisher: Cambridge University Press
ISBN: 1108245668
Category : Business & Economics
Languages : en
Pages : 350
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Book Description
This is the first of two volumes containing papers and commentaries presented at the Eleventh World Congress of the Econometric Society, held in Montreal, Canada in August 2015. These papers provide state-of-the-art guides to the most important recent research in economics. The book includes surveys and interpretations of key developments in economics and econometrics, and discussion of future directions for a wide variety of topics, covering both theory and application. These volumes provide a unique, accessible survey of progress on the discipline, written by leading specialists in their fields. The first volume includes theoretical and applied papers addressing topics such as dynamic mechanism design, agency problems, and networks.
Author: Yann Bramoullé
Publisher: Oxford University Press
ISBN: 0190216832
Category : Business & Economics
Languages : en
Pages : 857
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Book Description
The Oxford Handbook of the Economics of Networks represents the frontier of research into how and why networks they form, how they influence behavior, how they help govern outcomes in an interactive world, and how they shape collective decision making, opinion formation, and diffusion dynamics. From a methodological perspective, the contributors to this volume devote attention to theory, field experiments, laboratory experiments, and econometrics. Theoretical work in network formation, games played on networks, repeated games, and the interaction between linking and behavior is synthesized. A number of chapters are devoted to studying social process mediated by networks. Topics here include opinion formation, diffusion of information and disease, and learning. There are also chapters devoted to financial contagion and systemic risk, motivated in part by the recent financial crises. Another section discusses communities, with applications including social trust, favor exchange, and social collateral; the importance of communities for migration patterns; and the role that networks and communities play in the labor market. A prominent role of networks, from an economic perspective, is that they mediate trade. Several chapters cover bilateral trade in networks, strategic intermediation, and the role of networks in international trade. Contributions discuss as well the role of networks for organizations. On the one hand, one chapter discusses the role of networks for the performance of organizations, while two other chapters discuss managing networks of consumers and pricing in the presence of network-based spillovers. Finally, the authors discuss the internet as a network with attention to the issue of net neutrality.
Author:
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 544
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Book Description
This journal attempts to fill a gap between the general-interest press and other academic economics journals. Its articles relate to active lines of economics research, economic analysis of public policy issues, state-of-the-art economic thinking, and directions for future research. It also aims to provide material for classroom use, and to address issues relating to the economics profession.
