Multidimensional heterogeneity and the economic importance of risk and matching: evidence from contractual data and field experiments.
We measure the cost of risk and the benefits of matching heterogeneous workers to risk levels within a firm that pays its workers piece rates. The workers of this firm are heterogeneous in two dimensions: risk preferences and ability. Our results suggest that workers' willingness to pay to avoid ris...
| Publicado en: | RAND Journal of Economics (Wiley-Blackwell) Vol. 44; no. 2; pp. 361 - 390 |
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| Autores principales: | , |
| Formato: | Artículo |
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Wiley-Blackwell
Summer2013
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=88235797&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 88235797 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 07416261 56RJ jtl: RAND Journal of Economics (Wiley-Blackwell) issn: 07416261 maglogo: Y pubinfo: dt: Summer2013 vid: 44 iid: 2 pid: 480 pub: Wiley-Blackwell artinfo: ui: 88235797 10.1111/1756-2171.12023 ppf: 361 ppct: 29 formats: fmt: – @attributes: type: T – @attributes: type: P size: 588KB tig: atl: Multidimensional heterogeneity and the economic importance of risk and matching: evidence from contractual data and field experiments. aug: au: Bellemare, Charles Shearer, Bruce affil: Université Laval, CIRPÉE, and IZA Université Laval, CIRPÉE, IZA, and CIRANO su: Heterogeneity Employees Field research Multidimensional databases Willingness to pay sug: subj: Heterogeneity Employees Field research Multidimensional databases Willingness to pay ab: We measure the cost of risk and the benefits of matching heterogeneous workers to risk levels within a firm that pays its workers piece rates. The workers of this firm are heterogeneous in two dimensions: risk preferences and ability. Our results suggest that workers' willingness to pay to avoid risk is heterogeneous. It can attain 40% of their expected net earnings but averages to only 1%. Moreover, the benefits to the firm of matching are relatively small: profits are predicted to increase by only 2.3%, 4% if we restrict attention to cases where matching is possible. Although labor-market sorting contributes to this result (the workers in this firm are relatively risk tolerant), it is not the primary cause. More important is the relative homogeneity of risk conditions in this firm that give rise to limited opportunities for matching. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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