Evan Rawley

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We develop a simple model that links the adoption of a productivity-enhancing technology to increased vertical integration and a less skilled workforce. We test the model's key prediction using novel micro data on vehicle ownership patterns from the Economic Census during a period when computerized dispatching systems were first adopted by taxicab firms.(More)
This paper studies how firms reorganize following diversification, proposing that firms use outsourcing, or vertical disintegration , to manage diseconomies of scope. We also consider the origins of scope diseconomies, showing how different underlying mechanisms generate contrasting predictions about the link between within-firm task heterogeneity and the(More)
We propose that higher skilled firms diversify in equilibrium even though managers exploit idiosyncratic performance shocks to time diversification moves. We formalize this intuition in a mistake-free equilibrium and test our predictions using a large panel dataset on the hedge fund industry 1977-2006. The results show that returns fall following new fund(More)
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