Showing 1 - 10 of 476
We provide a test for statistical discrimination or rational stereotyping in in environments in which agents learn over time. Our application is to the labor market. If profit maximizing firms have limited information about the general productivity of new workers, they may choose to use easily...
Persistent link: https://www.econbiz.de/10005829605
the unemployment rate in the special case of homogenous firms. Furthermore, the equilibrium is unique. As the dimension of …
Persistent link: https://www.econbiz.de/10009220650
We develop a theory of the market for individual reputation, an indicator of regard by one's peers and others. The central questions are: 1) Does the quantity of exposures raise reputation independent of their quality? and 2) Assuming that overall quality matters for reputation, does the quality...
Persistent link: https://www.econbiz.de/10008622337
A model is presented in which people base their labor search strategy on the average wage and the average unemployment …
Persistent link: https://www.econbiz.de/10010652301
We study a search and bargaining model of an asset market, where investors’ heterogeneous valuations for the asset are drawn from an arbitrary distribution. Our solution technique renders the analysis fully tractable and allows us to provide a full characterization of the equilibrium, in...
Persistent link: https://www.econbiz.de/10011098936
We jointly measure the persuasive effects of slanted news and tastes for like-minded news. The key ingredient is using channel positions as exogenous shifters of cable news viewership. Local cable positions affect viewership by cable subscribers. They do not correlate with viewership by local...
Persistent link: https://www.econbiz.de/10011105922
R&D-intensive firms such as biotechnology and pharmaceutical companies follow very different corporate financial policies from firms in less R&D-intensive industries. To account for these differences, we propose an equilibrium model for such firms in which their capital structure, amount of R&D...
Persistent link: https://www.econbiz.de/10011159903
This paper develops a theory of how angel and venture capital markets interact. Entrepreneurs first receive angel then venture capital funding. The two investor types are 'friends' in that they rely upon each other's investments. However, they are also 'foes', because at the later stage the...
Persistent link: https://www.econbiz.de/10011262798
The largest and most important flow of scientific talent in the world is the migration of international students to the doctoral programs offered by universities in industrialized countries. This paper uses the opening of China in 1978 to estimate the causal effect of this flow on the...
Persistent link: https://www.econbiz.de/10011262918
This paper provides a data-driven overview of the different online platforms that consumers use to search for books and booksellers, and documents how the use of these platforms is shifting over time. Our data suggest that, as a result of digitization, consumers are increasingly conducting...
Persistent link: https://www.econbiz.de/10011264923