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Bargaining with Altruism
Pollak, Robert A. - National Bureau of Economic Research - 2022
Despite extensive use of bargaining models in economics and despite Becker's insistence on the importance of altruism … in families, the theoretical literature on bargaining ignores altruism and assumes that everyone is an egoist. This paper … shows that incorporating altruism into cooperative bargaining models shrinks the set potential cooperative bargaining …
Persistent link: https://www.econbiz.de/10013388855
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Monetary Policy Operations : Theory, Evidence, and Tools for Quantitative Analysis
Lagos, Ricardo; Navarro, Gastón - National Bureau of Economic Research - 2023
We formulate a quantitative dynamic equilibrium theory of trade in the fed funds market, calibrate it to fit a comprehensive set of marketwide and micro-level cross-sectional observations, and use it to make two contributions to the operational side of monetary policy implementation. First, we...
Persistent link: https://www.econbiz.de/10014322758
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Composite Sorting
Boerma, Job; Tsyvinski, Aleh; Wang, Ruodu; Zhang, Zhenyuan - National Bureau of Economic Research - 2023
We propose a new sorting framework: composite sorting. Composite sorting comprises of (1) distinct worker types assigned to the same occupation, and (2) a given worker type simultaneously being part of both positive and negative sorting. Composite sorting arises when fixed investments mitigate...
Persistent link: https://www.econbiz.de/10014372413
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Technological Synergies, Heterogeneous Firms, and Idiosyncratic Volatility
Fernández-Villaverde, Jesús; Yu, Yang; Zanetti, Francesco - National Bureau of Economic Research - 2024
This paper shows the importance of technological synergies among heterogeneous firms for aggregate fluctuations. First, we document six novel empirical facts using microdata that suggest the existence of important technological synergies between trading firms, the presence of positive...
Persistent link: https://www.econbiz.de/10014512101
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Sorting under Risk Sharing and Complementarities
Chade, Hector; Lindenlaub, Ilse - National Bureau of Economic Research - 2024
How does the presence of risk sharing affect sorting patterns on productive attributes when there are complementarities among partners' skills in match output? We develop a matching model in which risk-averse agents, who differ in skills, match pairwise for productive purposes. Match output has...
Persistent link: https://www.econbiz.de/10014468251
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Dynamic Programming on a Quantum Annealer : Solving the RBC Model
Fernández-Villaverde, Jesús; Hull, Isaiah J. - National Bureau of Economic Research - 2023
We introduce a novel approach to solving dynamic programming problems, such as those in many economic models, on a quantum annealer, a specialized device that performs combinatorial optimization. Quantum annealers attempt to solve an NP-hard problem by starting in a quantum superposition of all...
Persistent link: https://www.econbiz.de/10014322714
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Influencing Policy and Transforming Institutions : Lessons from Kidney/Liver Exchange
Sönmez, Tayfun; Ünver, M. Utku - National Bureau of Economic Research - 2023
Kidney exchange emerges as a pioneering application in the early stages of market design. In contrast to most other successful applications in the field, where design economists primarily serve as consultants to decision-makers, in the context of kidney exchange, they assumed the role of...
Persistent link: https://www.econbiz.de/10014447262
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Meritocracy across Countries
Bandiera, Oriana; Kotia, Ananya; Lindenlaub, Ilse; … - National Bureau of Economic Research - 2024
Are labor markets in higher-income countries more meritocratic, in the sense that worker-job matching is based on skills rather than idiosyncratic attributes unrelated to productivity? If so, why? And what are the aggregate consequences? Using internationally comparable data on worker skills and...
Persistent link: https://www.econbiz.de/10014528414
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Information Favoritism and Scoring Bias in Contests
Deng, Shanglyu; Fang, Hanming; Fu, Qiang; Wu, Zenan - National Bureau of Economic Research - 2023
Two potentially asymmetric players compete for a prize of common value, which is initially unknown, by exerting efforts. A designer has two instruments for contest design. First, she decides whether and how to disclose an informative signal of the prize value to players. Second, she sets the...
Persistent link: https://www.econbiz.de/10014247957
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Collaboration Between and Within Groups
Iaryczower, Matiás; Oliveros, Santiago; Parihar, Parth - National Bureau of Economic Research - 2022
We study the ability of multi-group teams to undertake binary projects in a decentralized environment. The equilibrium outcomes of our model display familiar features in collaborative settings, including inefficient gradualism, inaction, and contribution cycles, wherein groups alternate taking...
Persistent link: https://www.econbiz.de/10013462704