In this paper, we examine optimal job choices when jobs differ in the rate at which they reveal information about workers’ skills. We show that informational differences across jobs give rise to experimentation in that workers may be willing to sacrifice current period output in order to take...

We model competition between risk-neutral principals who hire weakly risk-averse agents to produce a good of variable quality. The agent can increase the likelihood of producing a high-quality good by providing costly effort. We demonstrate that, when the agent is strictly risk-averse, the cost...

This paper formulates and estimates a dynamic model of labor supply, occupational sorting, human capital accumulation and discrimination to explain the narrowing gender earnings gap from 1968 to 1993. The paper proves the model is identified and develops a three-step estimation technique....

Models of dynastic households have been traditionally used to analyze persistence in earnings and wealth across generations, more recently to study patterns of wealth and fertility, transfers to children and education choices. However most of those models have looked at the theoretical outcomes...