We develop and test a theory examining how frictions that restrict mobility across industries and frictions constraining mobility within an industry can co-occur to effectively isolate individual human capital, ultimately changing the firm's make-versus-buy decision for human capital....

The use of machine learning (ML) for productivity in the knowledge economy requires considerations of important biases that may arise from ML predictions. We define a new source of bias related to incompleteness in real time inputs, which may result from strategic behavior by agents. We theorize...