When alternative market institutions are available, traders have to decide both where and how much to trade. We conducted an experiment where traders could decide to trade either in an (efficient) double-auction institution or in a posted-offers one, which should favor sellers. When sellers face...

We appreciate the comments of and discussions with David Collie, Luis Corchón, Jean Gabszewicz, Andrey Minaev, Riccardo Saulle, Attila Tasnádi, Jacques-François Thisse and participants at the Oligo Workshop in Nottingham. All opinions and errors are ours alone.

In this paper we investigate the size of markups for nationally branded products sold in the U.S. retail grocery industry. Using scanner data from a large Midwestern supermarket chain, we compute several measures of upper and lower bounds on markup ratios for over 230 nationally branded products...

This paper establishes that entry and exit regulate the top half of the profitability distribution in the post-1970 U.S. economy. We, first, document stability in the distribution of total profits earned on tangible, intangible, and financial capital. Whereas a narrower measure of returns on...

We estimate a structural vector autoregressive model in order to quantify four main explanations for the decline of the US labor income share: (i) rising market power of firms, (ii) falling market power of workers, (iii) higher investmentspecific technology growth, and (iv) the widespread...

Today, countries around the world are seeking "smart" innovation-led growth, and hoping that this growth is also more "inclusive" and "sustainable" than in the past. This paper argues that such a feat requires rethinking the role of government and public policy in the economy - not only funding...

This paper analyzes the economic impact of unions on productivity in the manufacturing sector across six Latin American countries: Argentina, Bolivia, Chile, Mexico, Uruguay, and Paraguay. Using an augmented Cobb-Douglas production function, the paper finds that unions have positive, but mostly...

Efficiently growing a group or firm often requires integration of individuals from lower-performing entities. We explore the effectiveness of two policies intended to facilitate such integration, using a laboratory experiment that models production as a coordination game with Pareto-ranked...

We theoretically and experimentally analyze the role of verifiability and privacy in strategic performance feedback using a 'one principal-two agent' context with real effort. We confirm the theoretical prediction that information transmission occurs only in verifiable feedbackmechanisms and...

This paper proposes a novel approach that has the potential to hasten the eradication of gender disparities in employment. This approach relies upon the concept of statistical process control (SPC) to more systematically remedy disparate employment outcomes for women. SPC also serves as a new...