I study the effect of health insurance expansions on medical innovation. Practitioner dominated innovation (Roberts, 1988) creates an important role for the incentives in “local” payment systems as drivers of medical technology development. I show that, over the 15 years following Medicare...

We study a structural model of R&D alliance networks in which firms jointly form R&D collaborations to lower their production costs while competing on the product market. We derive the Nash equilibrium of this game, provide a welfare analysis and determine the optimal R&D subsidy program that...

A worker co-operative is a firm that is owned and managed by those who work in it. This paper provides a selective review of research in economics on worker cooperatives. It concentrates on the volatility of earnings and employment in the co-ops compared with conventional capitalist firms; on...

In this paper we propose and analyze a particular market failure that may lead to inefficiently low equilibrium fertility and therefore to a need for government intervention. The friction we investigate is related to the ownership of children. If parents have no claim on their children’s...

This paper posits a political economy explanation for why the public sector has remained on the deferred compensation defined benefit (DB) model of pension provision while the private sector has transitioned to defined contribution (DC) plans. Budgeting for deferred compensation in the public...

Highly-educated individuals are over-represented among violent operatives of insurgent organizations in the Middle East. This suggests four inter-related questions: (1) Why do those who seem to have good prospects willingly endanger their own lives? (2) What incentives drive these highly...

We study workers’ reactions to changes in the gender composition of top management during a merger or acquisition, finding that an increase in the number of female top managers within their occupation makes male workers more likely to quit, and female workers less likely to quit. These effects...

We analyze a model in which firms are able to acquire information about product risks and may or may not be required to disclose this information. We initially study the effect of disclosure rules assuming that firms are not liable for the harm caused by their products. Although mandatory...

Over the last decade the World Management Survey (WMS) has collected firmlevel management practices data across multiple sectors and countries. We developed the survey to try to explain the large and persistent TFP differences across firms and countries. This review paper discusses what has been...