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Becker Meets Ricardo: Multisector Matching with Social and Cognitive Skills

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  • Robert J. McCann
  • Xianwen Shi
  • Aloysius Siow
  • Ronald Wolthoff

Abstract

This paper presents a tractable framework for studying frictionless matching in school, work, and marriage when individuals have heterogeneous social and cognitive skills. In the model, there are gains to specialization and team production, but specialization requires communication and coordination between team members, and individuals with more social skills communicate and coordinate at lower resource cost. The theory delivers full task specialization in the labor and education markets, but incomplete specialization in marriage. It also captures well-known matching patterns in each of these sectors, including the commonly observed many-to-one matches in firms and schools. 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 University of Toronto, Department of Economics in its series Working Papers with number tecipa-454.

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Length: Unknown pages
Date of creation: 30 Apr 2012
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Handle: RePEc:tor:tecipa:tecipa-454

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Keywords: Matching; Specialization; Comparative Advantage; Span of Control; Education; Marriage;

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