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作者：Klein, Tobias J.; Lambertz, Christian; Stahl, Konrad O.
作者单位：Tilburg University; University of Mannheim; University of Mannheim; Leibniz Association; Zentrum fur Europaische Wirtschaftsforschung (ZEW)
摘要：We study how an improvement in market transparency affects seller exit and continuing sellers' behavior in a market setting that involves informational asymmetries. The improvement was achieved by reducing strategic bias in buyer ratings. It led to a significant increase in buyer satisfaction with seller performance, but not to an increase in seller exit. When sellers had the choice between exiting-a reduction in adverse selection-and staying but improving behavior-a reduction in moral hazard-...
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作者：Horner, Johannes; Skrzypacz, Andrzej
作者单位：Yale University; Stanford University
摘要：A firm considers hiring an agent who may be competent for a potential project or not. The agent can prove her competence but faces a holdup problem. We propose a model of persuasion and show how gradualism helps mitigate the holdup problem. We show when it is optimal to give away part of the information at the beginning of the bargaining and sell the remainder in dribs and drabs. The agent can appropriate only part of the value of information. Introducing a third party allows her to extract th...
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作者：Chodorow-Reich, Gabriel; Karabarbounis, Loukas
作者单位：Harvard University; National Bureau of Economic Research; University of Minnesota System; University of Minnesota Twin Cities; Princeton University
摘要：The flow opportunity cost of moving from unemployment to employment consists of forgone public benefits and the forgone consumption value of nonworking time. We construct a time series of the opportunity cost of employment using detailed microdata and administrative or national accounts data to estimate benefits levels, eligibility, take-up, consumption by labor force status, hours, taxes, and preference parameters. The opportunity cost is procyclical and volatile over the business cycle. The ...
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作者：Gill, David; Prowse, Victoria
作者单位：Purdue University System; Purdue University
摘要：We investigate how cognitive ability and character skills influence the evolution of play toward Nash equilibrium in repeated strategic interactions. We find that more cognitively able subjects choose numbers closer to equilibrium, earn more, and converge more frequently to equilibrium play. We estimate a structural model of learning based on level k reasoning and find a positive relationship between cognitive ability and levels. Furthermore, the average level of more cognitively able subjects...
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作者：Pallais, Amanda; Sands, Emily Glassberg
作者单位：Harvard University; National Bureau of Economic Research
摘要：Referred workers are more likely than nonreferred workers to be hired, all else equal. In three field experiments in an online labor market, we examine why. We find that referrals contain positive information about worker performance and persistence that is not contained in workers' observable characteristics. We also find that referrals perform particularly well when working directly with their referrers. However, we do not find evidence that referrals exert more effort because they believe t...
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作者：Mitch, David
作者单位：University System of Maryland; University of Maryland Baltimore County
摘要：The year 1946 has been seen as a pivotal year of transition by historians of the Chicago Economics Department, in large part as a result of the arrival of Milton Friedman that year. This essay examines new evidence on department deliberations on faculty hiring in February of 1946. It argues that Friedman's recruitment reflected a compromise between Frank Knight and his followers on the one hand and those associated with the Cowles Commission on the other.
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作者：Naidu, Suresh; Nyarko, Yaw; Wang, Shing-Yi
作者单位：Columbia University; New York University; University of Pennsylvania
摘要：By exploiting a reform in the United Arab Emirates that relaxed restrictions on employer transitions, we provide new estimates of the monopsony power of firms over migrant workers. Our results show that the reform increased incumbent migrants' earnings and firm retention. This occurs despite an increase in employer transitions and is driven by a fall in country exits. While the outcomes of incumbents improved, the reform decreased demand for new migrants and lowered their earnings. These resul...
