theory. We also illustrate how bubbles can emerge in intermediation. …

. Inspired by the theory of the core, we explore the idea that the competitive process is the process of sellers and buyers …

describing one such theory. …

particularly attractive locations to offshore? In this paper we address these questions with a theory of international production … hierarchies in which organizations arise endogenously to make efficient use of agents' knowledge. Our theory highlights the role …

question we propose a theory of the assignment of heterogeneous agents into hierarchical teams, where less skilled agents … globalization. Globalization leads to better matches for all southern workers but only for the best northern workers. As a result …, we show that globalization increases wage inequality in the South but not necessarily in the North. We also study how …