Based on the frictional matching framework, the paper provides a theoretical model for the two-sided platform in which the number of participants on both sides of the platform and the source of network externalities are endogenously determined. The platform is shown to exhibit both positive...

This paper analyses lawyer's choices of law in international sales contracts. It identifies key reasons for opting in or out of the CISG across different jurisdictions. The paper then examines aspects of this choice from economic and psychological perspectives: from the ability to externalize...

A physician performs two tasks: making diagnoses and determining treatments. To reduce medical error, residents are supposed to consult their supervisors when they face uncommon circumstances. However, recent research shows that residents are reluctant to do so. This paper presents a model that...

We extend March's model of exploration and exploitation to consider how environmental turbulence impacts organizational knowledge in hierarchies of varying size and depth. We then evaluate additional effects of a knowledge management (KM) system that collects and shares knowledge from expert...

The paper explains how a country can fall into a quot;low-skill, bad-job trap,quot; in which workers acquire insufficient training and firms provide insufficient skilled vacancies. In particular, the paper argues that in countries where a large proportion of the workforce is unskilled, firms...

We study a model where an employer, trying to fill a vacancy, engages in optimal sequential search by drawing from two subpopulations of candidates who differ in their quot;discourse systemsquot;: during an interview, a minority candidate with a discourse system not shared with the employer...

Should the FTC have allowed Zillow to acquire its foremost rival, Trulia? It is increasingly well-accepted that digital platforms tend toward dominance in their immediately adjacent relevant-product markets. Google, for example, has long held a majority share of the markets for general-search...