- 生活経済学研究 (ISSN:13417347)
- vol.27, pp.77-86, 2008
In a signaling theory, learning ability and productivity are often considered to be similar and a clear difference between them is not assumed. This paper shows that an assumption of the difference between them makes it clear that a correlation between them is important for one's educational background to signalize one's ability. This paper also discusses the problems associated with liquidity constraints when students signalize one's own ability.