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Persistent link: https://www.econbiz.de/10012634769
With a duopsony model, we show how the degree of labor market slack relates to earnings inequality and firm size distribution across local labor markets and the business cycle. In booms, due to the high aggregate productivity, there is fierce competition with resulting high wages and full...
Persistent link: https://www.econbiz.de/10012840335
Many markets rely on information intermediation to sustain cooperation between large communities. We identify a key trade-off in costly information intermediation: intermediaries can create trust by incentivizing information exchange, but with too much information acquisition, intermediation...
Persistent link: https://www.econbiz.de/10012906940
In this paper, we show that information trade has similar characteristics to a natural monopoly, where competition may be detrimental to efficiency due either to the duplication of direct costs or the slowing down of information dissemination. We present a model with two large populations in...
Persistent link: https://www.econbiz.de/10012942127
Persistent link: https://www.econbiz.de/10011809222
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