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On the efficiency properties of the Roy's model under asymmetric information

Mendolicchio, Concetta; Pietra, Tito - 2014

We consider Roy's economies with perfectly competitive labor markets and asymmetric information. Firms choose their investments in physical capital before observing the characteristics of the labor markets they will face. We provide conditions under which equilibrium allocations are constrained...

Persistent link: https://www.econbiz.de/10010420668

Information and Human Capital Management

Bar-Isaac, Heski; Jewitt, Ian; Leaver, Clare - 2012

An increasingly important organisational design problem for many firms is to recoup general human capital rents while maintaining attractive career prospects for workers. We explore the role of information management in this context. In our model, an information management policy determines the...

Persistent link: https://www.econbiz.de/10014222998

Optimal redistribution and education signaling

Bastani, Spencer; Blumḳin, Tomer; Micheletto, Luca - 2024

This paper studies optimal taxation of income and education when employers cannot observe workers' productivity and workers signal their productivity to firms by choosing both quantity and quality of education. We characterize constrained efficient allocations and derive conditions under which...

Persistent link: https://www.econbiz.de/10014490255

Information Acquisition and Efficient Mechanism Design

Bergemann, Dirk; Välimäki, Juuso - 2001

every private value environment the Vickrey-roves-Clark mechanism guarantees both ex-ante as well as ex-post efficiency. In … contrast, with common values, ex-ante and ex-post efficiency cannot be reconciled in general. Sufficient conditions in terms of …

Persistent link: https://www.econbiz.de/10014165690

Opportunity and inequality across generations

Koeniger, Winfried; Zanella, Carlo - 2022

We evaluate a temporary public sector employment program targeted at individuals with weak labor market attachment, applying dynamic inverse probability weighting to account for dynamic selection. We show that the program is successful in increasing employment and reducing social assistance....

Persistent link: https://www.econbiz.de/10012879620

Opportunity and inequality across generations

Koeniger, Winfried; Zanella, Carlo - 2020

We analyze inequality and mobility across generations in a dynastic economy. Nurture, in terms of bequests and the schooling investment into the next generation, is observable but the draw of nature in terms of ability is hidden, stochastic and persistent across generations. We calibrate the...

Persistent link: https://www.econbiz.de/10012166025

On the efficiency properties of the Roy's model under asymmetric information

Mendolicchio, Concetta; Pietra, Tito - Institut für Arbeitsmarkt- und Berufsforschung (IAB) - 2014

"We consider Roy's economies with perfectly competitive labor markets and asymmetric information. Firms choose their investments in physical capital before observing the characteristics of the labor markets they will face. We provide conditions under which equilibrium allocations are constrained...

Persistent link: https://www.econbiz.de/10010754408

Welfare effects of the allocation of talent to financial trading : what does the Grossman-Stiglitz model say?

Arnold, Lutz; Zelzner, Sebastian - 2020

This paper investigates the implications of the Grossman-Stiglitz (1980) model on the informational efficiency of …

Persistent link: https://www.econbiz.de/10012164697

Informational Size and Incentive Compatibility with Aggregate Uncertainty

MacLean, Richard P.; Postlewaite, Andrew - 2003

uncertainty regarding the state of nature, the conflict between incentive compatibility and (ex post) efficiency can be made small … and efficiency for the case in which nontrivial aggregate uncertainty is present, i.e., when significant uncertainty about … compatibility and efficiency asymptotically vanishes when an economy is replicated …

Persistent link: https://www.econbiz.de/10014089832

Accessible Pareto-Improvements : Using Market Information to Reform Inefficiencies

Mandler, Michael - 2003

-best efficiency, they lead to Pareto-improvements and production efficiency. Moreover, the production efficiency advantage persists …

Persistent link: https://www.econbiz.de/10014125047