Spence invented the idea of market signaling. In his 1973 QJE article, he showed how people would choose to invest in higher amounts of education in order to signal to employers that they have the unobservable qualities needed to be a good match.
Daljit Dhadwal > > who is spence? > > > > ----- Original Message ----- > From: markjohn™ <[EMAIL PROTECTED]> > Date: Thursday, October 11, 2001 0:46 am > > > stiglitz, akerlof, spence > > > > > >
