Comment on: "Strategic innovation and technology adoption in an evolving industry"
In: Journal of Monetary Economics, Band 51, Heft 1, S. 123-126
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In: Journal of Monetary Economics, Band 51, Heft 1, S. 123-126
In: The Rand journal of economics, Band 31, Heft 1, S. 180
ISSN: 1756-2171
In: International Economic Review, Band 56, Heft 1, S. 95-132
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In: American economic review, Band 96, Heft 1, S. 387-393
ISSN: 1944-7981
Why are distortionary policies used when seemingly Pareto improvements exist? According to a standard textbook argument, a Pareto improvement can be obtained by eliminating the distortions, compensating the losers with a lump sum transfer, and redistributing the gains that are left over. We relax the assumption that winners know the losses suffered by the losers and show that the informationally efficient method of compensating losers may involve the use of seemingly inefficient (but informationally efficient) distortionary policies. The risk of overcompensating losers may make distortions informationally efficient, as there are points on the Pareto frontier where distortions are used.
In: The Rand journal of economics, Band 32, Heft 1, S. 152
ISSN: 1756-2171
In: The Rand journal of economics, Band 39, Heft 2, S. 329-351
ISSN: 1756-2171
This article develops a theory of how capital, skilled labor, and unskilled labor interact at the plant level. The theory has implications for the relationship between factor allocation and plant size and the effects of trade and growth on the skill premium. The theory is consistent with certain facts about factor allocation and factor price changes in the 19th and 20th centuries.
In: CEPR Discussion Paper No. DP14408
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Working paper
In: Rotman School of Management Working Paper No. 2916815
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Working paper
In: NBER Working Paper No. w20197
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