We theorize that differences in human assets’ ability to generate value are linked to exit decisions and their effects on firm performance. Using linked employee-employer data from the U.S. Census Bureau on legal services, we find that employees with higher earnings are less likely to leave...

We experimentally study decentralized organizational learning. Our objective is to understand how learning members of an organization cope with the confounding effects of the simultaneous learning of others. We test the predictions of a stylized, rational agent model of organizational learning...

No abstract.

We investigate dynamic coordination among members of a problem-solving team who receive private signals about which of their actions are required for a (static) coordinated solution and who have repeated opportunities to explore different action combinations. In this environment ordinal...

This paper develops a theory of debt management in which government financing decisions have distributional consequences. We consider a constant aggregate endowment economy in which the government finances exogenous stochastic public spending needs with uniform lump sum taxes and...

This paper studies the role of education in women's changing role in the labor and marriage markets since the 1960's.

The global economic and financial instability context of the 1990s and 2000s also affected the Turkish economy. Actually, the 1980s in Turkey are characterized by a radical transformation of its economy through significant efforts of liberalization. With an out-looking economy and a liberalized...

The goal of this paper is to develop formal techniques for analyzing the relative in-sample performance of two competing, misspecified models in the presence of possible data instability. The central idea of our methodology is to propose a measure of the models' local relative performance: the...

quantifying gravity- and border-effects in price setting behavior.

In traditional auction theory, the auctioneer is usually treated as a non-entity or someone whose incentives are completely aligned with the seller's. In reality, quite frequently that is not the case. Many auctions are administered by third party auctioneers who do not own the product and get a...