2 papers
econ.GN2026
How Wasteful is Signaling?
Alex Frankel, Navin Kartik
Signaling is wasteful. But how wasteful? We study the fraction of surplus dissipated in a separating equilibrium. For isoelastic environments, this waste ratio has a simple formula…
econ.TH2023
Test-Optional Admissions
Wouter Dessein, Alex Frankel, Navin Kartik
Many U.S. colleges now use test-optional admissions. A frequent claim is that by not seeing standardized test scores, a college can admit a student body it prefers, say with more d…