tag:blogger.com,1999:blog-20142791.post129708778851965768..comments2024-03-11T07:41:19.149-04:00Comments on The Perfect Substitute: The College PlaceboUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-20142791.post-76596626505694665272009-09-04T13:54:58.675-04:002009-09-04T13:54:58.675-04:00Yeah, it is a provocative idea, and it is hard for...Yeah, it is a provocative idea, and it is hard for me to disentangle any supposed placebo effect from a separating equilibrium in a signaling game.Justin M Rosshttps://www.blogger.com/profile/06990658017459237627noreply@blogger.comtag:blogger.com,1999:blog-20142791.post-82369072526095616342009-09-04T12:18:09.336-04:002009-09-04T12:18:09.336-04:00This seems like a serious misunderstanding of whom...This seems like a serious misunderstanding of whom the placebo effect affects. Consider: the placebo effect is a question of information. In this case, what does a college education signal? Cowen's thesis is that it signals to the person that they are more qualified for jobs blah blah blah. Well, maybe. But mostly, it's a placebo effect to the employers who now believe that. ( Even though it may not be true. ) But we know it's an employer effect, no a college grad effect, because it's the employers who maintain the rigid BA, MA, PhD qualification requirements for jobs and toss out applications that do not conform. <br /><br />On the other hand, it seems that there probably is some minor placebo effect on college graduates, but that has much less to do with the job market than the other point.Admiralhttp://www.awkwardutopia.comnoreply@blogger.com