1 option
Matching and Price Competition / Jeremy Bulow, Jonathan Levin.
- Format:
- Book
- Author/Creator:
- Bulow, Jeremy.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w11506.
- NBER working paper series no. w11506
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2005.
- Summary:
- We develop a model in which firms set impersonal salary levels before matching with workers.
- Salaries fall relative to any competitive equilibrium while profits rise by almost as much, implying
- little inefficiency. Furthermore, the best firms gain the most from the system while wages become
- compressed. We discuss the performance of alternative institutions and the recent antitrust case
- against the National Residency Matching Program in light of our results.
- Notes:
- Print version record
- August 2005.
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