1 answer

3) Explain what the asymmetric information problem is with respect to hiring workers? What are signals...

Question:

3) Explain what the asymmetric information problem is with respect to hiring workers? What are signals and how can they help
3) Explain what the asymmetric information problem is with respect to hiring workers? What are signals and how can they help solve this problem?

Answers

The ASYMMETRIC issue here is that companies do not know about how efficient the prospective employees are. Recruiting companies don't have as many details about brand-new possible recruits as these recruits do know about themselves. This triggers a problem in the selection of employees.

Signaling can help here. E. G's educational background often demonstrates how much-dedicated people are and just how much efficient and disciplined they are.

Hence signals offer cheap sources of resolving asymmetric info.

.

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