Beyond Signaling and Human Capital: Education and the Revelation of Ability
研究发现大学毕业生在劳动力市场中能力被近乎完美地揭示，而高中毕业生能力揭示更缓慢，这有助于解释种族间的工资、教育及能力回报差异。
We provide evidence that college graduation plays a direct role in revealing ability to the labor market. Using the NLSY79, our results suggest that ability is observed nearly perfectly for college graduates, but is revealed to the labor market more gradually for high school graduates. Consequently, from the beginning of their careers, college graduates are paid in accordance with their own ability, while the wages of high school graduates are initially unrelated to their own ability. This view of ability revelation in the labor market has considerable power in explaining racial differences in wages, education, and returns to ability.