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Tuesday, March 31, 2020 at 4:15pm to 5:45pm
Uris Hall, 498
Thomas Jungbauer - Cornell University - CANCELLED
Self-Reported Signaling (joint w/Michael Waldman)
Abstract: In many real-world settings, an action that constitutes a signal is self-reported rather than publicly observed introducing possible misrepresentation. We investigate how standard theoretical results change when the signal is self-reported. Our main results are a reduction in overinvestment in the signal and a potential associated social welfare improvement. An increase in the cost of auditing may improve social welfare for a similar reason. We compare these results to a scenario in which no signaling is involved. Finally, we apply our approach to common real-world practices including resume padding, lying in the college admissions process, and odometer fraud.