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We use matched employee-employer data from the UK to highlight the importance of social skills, including the ability to work well in a team and communicate effectively with co-workers, as a driver for individual wage growth for workers with few formal educational qualifications. We show that...
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value of local information and urgent action increases. Since turbulence rises in severe downturns, decentralized firms do …
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implementation mechanism induces truth-telling in practice, both in a setting with perfect information and in a setting where buyers … implement truth-telling in a substantial number of cases even under perfect information about the valuation of the good. This …
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