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Inside Job or Deep Impact? Using Extramural Citations to Assess Economic Scholarship
Angrist, Joshua - 2017
clients and peers? Is economics scholarship uniquely insular? We address these questions by quantifying interactions between … economics and other disciplines. Changes in the impact of economic scholarship are measured here by the way other disciplines … cite us. We document a clear rise in the extramural influence of economic research, while also showing that economics is …
Persistent link: https://www.econbiz.de/10012454984
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Legal Investor Protection and Takeovers
Burkart, Mike - 2011
We study the role of legal investor protection for the efficiency of the market for corporate control. Stronger legal investor protection limits the ease with which an acquirer, once in control, can extract private benefits at the expense of non-controlling investors. This, in turn, increases...
Persistent link: https://www.econbiz.de/10012461648
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Prospect Theory and Asset Prices
Barberis, Nicholas - 1999
We propose a new framework for pricing assets, derived in part from the traditional consumption-based approach, but which also incorporates two long-standing ideas in psychology: prospect theory, and evidence on how prior outcomes affect risky choice. Consistent with prospect theory, the...
Persistent link: https://www.econbiz.de/10012471569
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Airline Hubs : Costs, Markups and the Implications of Customer Heterogeneity
Berry, Steven - 1996
This paper estimates a model of airline competition that captures the two major features of the industry: product differentiation and economies of density. The results not only provide support to some of the traditional common wisdom in the industry, but are also useful for understanding major...
Persistent link: https://www.econbiz.de/10012473287
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Prevailing Wage Laws and Construction Labor Markets
Kessler, Daniel P. - 1999
Prevailing wage laws, which require that construction workers employed by private contractors on public projects be paid at least the wages and benefits that are "prevailing" for similar work in or near the locality in which the project is located, have been the focus of an extensive policy...
Persistent link: https://www.econbiz.de/10012471329
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Can Union Labor Ever Cost Less?
Allen, Steven G. - 1986
This paper examines the effect of unions on efficiency by estimating cost function systems over three different sets of construction projects. The results show that union contractors have greater economies of scale. This gives them a cost advantage in large commercial office buildings, but in...
Persistent link: https://www.econbiz.de/10012477051
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Why Construction Industry Productivity is Declining
Allen, Steven G. - 1985
According to unpublished data compiled by BLS, productivity in the construction industry reached a peak in 1968 and, except for a brief and small upturn between 1974 and 1976, has been falling ever since. This paper examines the sources of this productivity decline between 1968 and 1978 by...
Persistent link: https://www.econbiz.de/10012477530
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Unionization and Productivity in Office Building and School Construction
Allen, Steven G. - 1983
This paper examines the difference in productivity between union and nonunion contractors in the construction industry over a sample of 83 commercial office buildings and another sample of 68 elementary and secondary schools. The popular belief that the building trades unions reduce productivity...
Persistent link: https://www.econbiz.de/10012477962
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Imperfect Competition and Rents in Labor and Product Markets : The Case of the Construction Industry
Kroft, Kory - 2020
The primary goal of our paper is to quantify the importance of imperfect competition in the U.S. construction industry by estimating the size of rents earned by American firms and workers. To obtain a comprehensive measure of the total rents and to understand its sources, we take into account...
Persistent link: https://www.econbiz.de/10012481519
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The Evolution of a Legal Rule
Niblett, Anthony - 2008
The efficiency of common law rules is central to achieving efficient resource allocation in a market economy. While many theories suggest reasons why judge-made law should tend toward efficient rules, the question whether the common law actually does converge in commercial areas has remained...
Persistent link: https://www.econbiz.de/10012464791