Chen, Yu; Doyle, Matthew; González, Francisco M. - In: Theoretical Economics 19 (2024) 1, pp. 499-549
signal of workers' willingness to switch jobs. In turn, this implies that the wage contracts that employers post in the … equilibrium may fail to reveal match productivities in the market for entry jobs. The non-revealing equilibrium features wage … posting --- pooling wage contracts --- as well as counteroffers, which eliminates the holdup problem at the cost of distorting …