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Monopsony in Online Labor Markets / Arindrajit Dube, Jeff Jacobs, Suresh Naidu, Siddharth Suri.
- Format:
- Book
- Author/Creator:
- Dube, Arindrajit.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w24416.
- NBER working paper series no. w24416
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2018.
- Summary:
- On-demand labor platforms make up a large part of the "gig economy." We quantify the extent of monopsony power in one of the largest on-demand labor platforms, Amazon Mechanical Turk (MTurk), by measuring the elasticity of labor supply facing the requester (employer) using both observational and experimental variation in wages. We isolate plausibly exogenous variation in rewards using a double-machine-learning estimator applied to a large dataset of scraped MTurk tasks. We also re-analyze data from 5 MTurk experiments that randomized payments to obtain corresponding experimental estimates. Both approaches yield uniformly low labor supply elasticities, around 0.1, with little heterogeneity.
- Notes:
- Print version record
- March 2018.
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