Job Market Signalling
Job Market Signaling Michael Spence The Quarterly Journal of Economics, Vol. 87, No. 3. (Aug., 1973), pp. 355-374.
Stable URL: http://links.jstor.org/sici?sici=0033-5533%28197308%2987%3A3%3C355%3AJMS%3E2.0.CO%3B2-3 The Quarterly Journal of Economics is currently published by The MIT Press.
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http://www.jstor.org Thu Apr 3 07:17:58 2008
JOB MARKET SIGNALING *
1. Introduction, 355. - 2. Hiring as investment under uncertainty, 356. 3. Applicant signaling, 358. -4. Informational feedback and the definition of equilibrium, 359. - 5. Properties of informational equilibria: an example, 361. - 6. The informational impact of indices, 368. - Conclusions, 374.
The term "market signaling" is not exactly a part of the welldefined, technical vocabulary of the
Stable URL: http://links.jstor.org/sici?sici=0033-5533%28197308%2987%3A3%3C355%3AJMS%3E2.0.CO%3B2-3 The Quarterly Journal of Economics is currently published by The MIT Press.
Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/about/terms.html. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://www.jstor.org/journals/mitpress.html. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission.
The JSTOR Archive is a trusted digital repository providing for long-term preservation and access to leading academic journals and scholarly literature from around the world. The Archive is supported by libraries, scholarly societies, publishers, and foundations. It is an initiative of JSTOR, a not-for-profit organization with a mission to help the scholarly community take advantage of advances in technology. For more information regarding JSTOR, please contact support@jstor.org.
http://www.jstor.org Thu Apr 3 07:17:58 2008
JOB MARKET SIGNALING *
1. Introduction, 355. - 2. Hiring as investment under uncertainty, 356. 3. Applicant signaling, 358. -4. Informational feedback and the definition of equilibrium, 359. - 5. Properties of informational equilibria: an example, 361. - 6. The informational impact of indices, 368. - Conclusions, 374.
The term "market signaling" is not exactly a part of the welldefined, technical vocabulary of the