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To overcome the problem of adverse selection, employers can use techniques, such as
To overcome the problem of adverse selection, employers can use techniques, such as .
a) signaling; monitoring employee efforts.
b) screening; monitoring employee efforts.
c) screening; checking employee references.
d) signaling; checking employee references.
Expert Solution
- The correct option is (c). Screening; checking employee references.
In the labor market, there is a problem of adverse selection as employers don't know about the perfect picture of employee skills and knowledge; however, the employees know about their capabilities. Hence, to overcome this problem of adverse selection in the labor market, the employer must use the screening techniques like checking the employee references.
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