Paper Detail
Mark Whitmeyer
Labels -- grades, credentials, scores, ratings, ranks -- do two things. They inform receivers, and they give agents something to chase. I study optimal classification when labels must be earned through costly self-selection. I show that exact certification is inefficiently fine: pooling a small bottom interval saves first-order signaling costs while losing only higher-order decision value. I provide sufficient conditions for lower censorship to maximize efficiency as well as for every optimal classification to use finitely many categories.
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@article{whitmeyer2026labels,
title = {Labels},
author = {Mark Whitmeyer},
year = {2026},
abstract = {Labels -- grades, credentials, scores, ratings, ranks -- do two things. They inform receivers, and they give agents something to chase. I study optimal classification when labels must be earned through costly self-selection. I show that exact certification is inefficiently fine: pooling a small bottom interval saves first-order signaling costs while losing only higher-order decision value. I provide sufficient conditions for lower censorship to maximize efficiency as well as for every optimal cl},
url = {https://arxiv.org/abs/2606.26064},
keywords = {econ.TH},
eprint = {2606.26064},
archiveprefix = {arXiv},
}
{}