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1 We thank Robert Lalonde for providing us with the data from his 1986 study. We thank Rajeev Dehejia for providing us with information helpful in reconstructing the samples used in the Dehejia and Veall and two anonymous referees for useful comments. Jingjing Hsee and Miana Plesca provided excellent research assistance. We are grateful to James Heckman for(More)
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Life-cycle models of labor supply predict a positive relationship between hours supplied and transitory changes in wages. We tested this prediction using three samples of wages and hours of New York City cabdrivers, whose wages are correlated within days but uncorrelated between days. Estimated wage elasticit-ies are signicantly negative in two out of three(More)
We compare individuals with two-person teams in signaling game experiments. Teams consistently play more strategically than individuals, and generate positive synergies in more difficult games, beating a demanding " truth wins " norm. The superior performance of teams is most striking following changes in payoffs that change the equilibrium outcome.(More)
A sizable volume of literature on the study of income and consumption dynamics has developed through the application of panel data surveys. Very few researchers, however, have provided solutions to the measurement error bias generated by surveyed income and consumption, although the presence of such bias has been widely acknowledged. This paper uses data(More)
We develop and implement a model of female participation, labour supply and employment that incorporates both search unemployment and discouraged workers. We show that in an intertemporal environment with fixed costs, search costs, permanent lay-offs and infrequent job arrivals, an adaptation of the standard (two-stage budgeting) approach to modelling hours(More)
We examine the behaviour of the nonparametric maximum likelihood estimator (NPMLE) for a discrete duration model with un-observed heterogeneity and unknown duration dependence. We find that a nonparametric specification of either the duration dependence or unobserved heterogeneity, when the other feature of the hazard is known to be absent, leads to(More)
Social contacts help workers to …nd jobs, but those jobs need not be in the occupations where workers are most productive. Hence social contacts can generate mismatch between a worker's occupational choice and his comparative productive advantage. Thus economies with dense social networks can exhibit apparently low labor force quality and, as a result, low(More)
Inexperienced women, along with economics and business majors, are much more susceptible to the winner's curse, as are subjects with lower SAT/ACT scores. There are strong selection effects in bid function estimates for inexperienced and experienced subjects due to bankruptcies and bidders who have lower earnings returning less frequently as experienced(More)