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Becker meets Ricardo: A social and cognitive skills model of human capabilities

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  • Xianwen Shi

    (University of Toronto)

  • Ronald Wolthoff

    (University of Toronto)

  • Aloysius Siow

    (University of Toronto)

  • Robert McCann

    (University of Toronto)

Abstract

This paper studies an equilibrium model of social and cognitive skills interactions in school, work and marriage. The model uses a common team production function in each sector which integrates the complementarity concerns of Becker with the task assigment and comparative advantage concerns of Ricardo. The theory delivers full task specialization in the labor and education markets, incomplete task specialization in marriage. It rationalizes many to one matching, a common feature in labor markets. There is also occupational choice, matching by different skills in different sectors. Equilibrium is equivalent to the solution of an utilitarian social planner solving a linear programming problem.

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Bibliographic Info

Paper provided by Society for Economic Dynamics in its series 2012 Meeting Papers with number 32.

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Date of creation: 2012
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Handle: RePEc:red:sed012:32

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  1. Loren Brandt & Aloysius Siow & Carl Vogel, 2008. "Large Shocks and Small Changes in the Marriage Market for Famine Born Cohorts in China," Working Papers tecipa-334, University of Toronto, Department of Economics.
  2. repec:bla:restud:v:74:y:2007:i:2:p:507-535 is not listed on IDEAS
  3. Flavio Cunha & James Heckman & Susanne Schennach, 2010. "Estimating the technology of cognitive and noncognitive skill formation," CeMMAP working papers CWP09/10, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
  4. Shimer, R. & Smith, L., 1997. "Assortative Matching and Search," Working papers 97-2b, Massachusetts Institute of Technology (MIT), Department of Economics.
  5. Jeremy Lise & Costas Meghir & Jean-Marc Robin, 2013. "Matching, Sorting and Wages," Sciences Po publications 11, Sciences Po.
  6. Pierre-Andre Chiappori & Sonia Oreffice & Climent Quintana-Domeque, 2011. "Matching with a Handicap: The Case of Smoking in the Marriage Market," Discussion Papers 1011-07, Columbia University, Department of Economics.
  7. Sherwin Rosen, 1982. "Authority, Control, and the Distribution of Earnings," Bell Journal of Economics, The RAND Corporation, vol. 13(2), pages 311-323, Autumn.
  8. Alvin E. Roth, 2007. "What Have We Learned From Market Design?," NBER Working Papers 13530, National Bureau of Economic Research, Inc.
  9. Murat Nick & P. Randall Walsh, 2007. "Building the Family Nest: Premarital Investments, Marriage Markets, and Spousal Allocations," Review of Economic Studies, Oxford University Press, vol. 74(2), pages 507-535.
  10. Burda, Michael C. & Hamermesh, Daniel S. & Weil, Philippe, 2007. "Total Work, Gender and Social Norms," IZA Discussion Papers 2705, Institute for the Study of Labor (IZA).
  11. Gibbons, Robert & Waldman, Michael, 1999. "Careers in organizations: Theory and evidence," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 36, pages 2373-2437 Elsevier.
  12. Michael Peters & Aloysius Siow, 2000. "Competing Pre-marital Investments," Working Papers peters-00-01, University of Toronto, Department of Economics.
  13. Almlund, Mathilde & Duckworth, Angela Lee & Heckman, James J. & Kautz, Tim, 2011. "Personality Psychology and Economics," IZA Discussion Papers 5500, Institute for the Study of Labor (IZA).
  14. Legros, Patrick & Newman, Andrew F, 2002. "Monotone Matching in Perfect and Imperfect Worlds," Review of Economic Studies, Wiley Blackwell, vol. 69(4), pages 925-42, October.
  15. Robert A. Pollak, 2011. "Allocating Time: Individuals' Technologies, Household Technology, Perfect Substitutes, and Specialization," NBER Working Papers 17529, National Bureau of Economic Research, Inc.
  16. Eugene Choo & Aloysius Siow, 2006. "Who Marries Whom and Why," Journal of Political Economy, University of Chicago Press, vol. 114(1), pages 175-201, February.
  17. Smeets, Valerie & Warzynski, Frederic, 2008. "Too many theories, too few facts? What the data tell us about the link between span of control, compensation and career dynamics," Labour Economics, Elsevier, vol. 15(4), pages 687-703, August.
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