We systematically analyze how variations in board independence and ownership concentration and type affect corporate social performance (CSP). Drawing from the agency and stakeholder perspectives, we argue that recognizing differences in the distribution of costs and benefits to shareholders and...

This paper analyzes the early research performance of PhD graduates in labor economics, addressing the following questions: Are there major productivity differences between graduates from American and European institutions? If so, how relevant is the quality of the training received (i.e....

This paper shows that models where preferences of individuals depend not only on their allocations, but also on the well-being of other persons, can produce both large and testable effects. We study the allocation of workers with heterogeneous productivities to firms. We show that even small...

We study the effects of competition in a context in which people's actions can not be contractually fixed. We find that in such an environment the very presence of competition does neither increase efficiency nor does it yield any payoff gains for the short side of the market. We also find that...

Does ethical differentiation of products affect market behavior? We examined this issue in triopolistic experimental markets where producers set prices. One producer's costs were higher than the others. In two treatments, the additional costs were attributed to compliance with ethical...

Donors often rely on local intermediaries to deliver benefits to target beneficiaries. Each selected recipient observes if the intermediary under-delivers to them, so they serve as natural monitors. However, they may withhold complaints when feeling unentitled or grateful to the intermediary for...

Although economic inequality has long been viewed as a cause of civil conflict, existing research has not found robust empirical support for this relationship. This study explores the connections between inequality and civil conflict by focusing on the mediating role of ethnic identity. Using...

We give a simple and concise proof that so-called generalized median stable matchings are well-defined for college admissions problems. Furthermore, we discuss the fairness properties of median stable matchings and conclude with two illustrative examples of college admissions markets, the...

We study experimentally how the ability to communicate affects the frequency and effectiveness of flexible and inflexible contracts in a bilateral trade context where sellers can adjust trade quality after observing a post-contractual cost shock and a discretionary buyer transfer. In the absence...

We study optimal contracts in a simple model where employees are averse to inequity as modelled by Fehr and Schmidt (1999). A selfish employer can profitably exploit envy or guilt by offering contracts which create inequity off-equilibrium, i.e., when employees do not meet his demands. Such...