Becker Meets Ricardo: Multisector Matching with Social and Cognitive Skills
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 a utilitarian social planner solving a linear programming problem.
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| Length: | 48 pages |
| Date of creation: | Apr 2012 |
| Date of revision: | |
| Publication status: | published in: Journal of Law, Economics and Organization, 2015, 31 (4), 690-720 |
| Handle: | RePEc:iza:izadps:dp6533 |
| Contact details of provider: | Postal: IZA, P.O. Box 7240, D-53072 Bonn, Germany Phone: +49 228 3894 223 Fax: +49 228 3894 180 Web page: http://www.iza.org
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| Order Information: | Postal: IZA, Margard Ody, P.O. Box 7240, D-53072 Bonn, Germany Email: |
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