Final answer:
Application blanks, biographical information, and reference and background checks all assess an applicant's skills and experience by collecting and verifying data related to their education, work history, and qualifications to mitigate hiring risks.
Step-by-step explanation:
In the context of initial assessment methods for hiring, application blanks, biographical information, and reference and background checks are similar because they all assess an applicant's skills and experience. These tools help employers gather information about a candidate's academic and work history, and to some extent, personal characteristics such as motivation, timeliness, and the ability to get along with others. This evaluation is crucial due to the asymmetric information that often exists in the labor market, where employers cannot fully ascertain the candidate's attributes until they are actually on the job.
Application blanks collect detailed factual information about a candidate’s education, work history, and qualifications. Biographical information offers insights into a candidate's past experiences and behaviors as predictors of future performance. Reference and background checks are used to verify the information provided by the candidate and to gain additional perspective on their work ethic and professional demeanor. All three methods are deployed to mitigate the risk of hiring a 'lemon' - a poor-quality employee - by providing critical data throughout the selection process, rather than being tools used exclusively for final candidate selection or focusing mainly on personality traits.