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作者：Akbarpour, Mohammad; Nikzad, Afshin
作者单位：Stanford University; University of Southern California
摘要：We generalize the scope of random allocation mechanisms, in which the mechanism first identifies a feasible expected allocation and then implements it by randomizing over nearby feasible integer allocations. The previous literature has shown that the cases in which this is possible are sharply limited. We show that if some of the feasibility constraints can be treated as goals rather than hard constraints, then, subject to weak conditions that we identify, any expected allocation that satisfie...
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作者：Biais, B.; Landier, A.
作者单位：Hautes Etudes Commerciales (HEC) Paris
摘要：While potentially more productive, more complex tasks generate larger agency rents. Agents therefore prefer to acquire complex skills, to earn large rents. In our overlapping generations model, their ability to do so is kept in check by competition with predecessors. Old agents, however, are imperfect substitutes for young ones, because the latter are easier to incentivize, thanks to longer horizons. This reduces competition between generations, enabling young managers to go for larger complex...
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作者：Taschereau-Dumouchel, Mathieu
作者单位：Cornell University
摘要：This article develops a search theory of labour unions in which the possibility of unionization distorts the behaviour of non-union firms. In the model, unions arise endogenously through a majority election within firms. As union wages are set through a collective bargaining process, unionization compresses wages and lowers profits. To prevent unionization, non-union firms over-hire high-skill workers-who vote against the union-and under-hire low-skill workers-who vote in its favour. As a cons...
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作者：Igami, Mitsuru; Uetake, Kosuke
作者单位：Yale University
摘要：How far should an industry be allowed to consolidate when competition and innovation are endogenous? We develop a stochastically alternating-move game of dynamic oligopoly and estimate it using data from the hard disk drive industry, in which a dozen global players consolidated into only three in the last 20 years. We find plateau-shaped equilibrium relationships between competition and innovation, with heterogeneity across time and productivity. Our counterfactual simulations suggest the curr...
