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Becker Meets Ricardo: Multisector Matching with Social and Cognitive Skills

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

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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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
Date of revision:
Handle: RePEc:tor:tecipa:tecipa-454
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  3. Heckman, James J. & Pinto, Rodrigo & Savelyev, Peter, 2012. "Understanding the Mechanisms Through Which an Influential Early Childhood Program Boosted Adult Outcomes," IZA Discussion Papers 7040, Institute for the Study of Labor (IZA).
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  8. Dennis Epple & Richard Romano & Holger Sieg, 2006. "Admission, Tuition, and Financial Aid Policies in the Market for Higher Education," Econometrica, Econometric Society, vol. 74(4), pages 885-928, 07.
  9. Chiappori, Pierre-André & Oreffice, Sonia & Quintana-Domeque, Climent, 2010. "Matching with a Handicap: The Case of Smoking in the Marriage Market," IZA Discussion Papers 5392, Institute for the Study of Labor (IZA).
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  12. Kuhn, Peter & Weinberger, Catherine, 2003. "Leadership Skills and Wages," University of California at Santa Barbara, Economics Working Paper Series qt50q3c9n1, Department of Economics, UC Santa Barbara.
  13. Pedro Ortín-Ángel & Vicente Salas-Fumás, 2007. "Compensation Dispersion Between and Within Hierarchical Levels," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 16(1), pages 53-79, 03.
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  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. Siwan Anderson, 2003. "Why Dowry Payments Declined with Modernization in Europe but Are Rising in India," Journal of Political Economy, University of Chicago Press, vol. 111(2), pages 269-310, April.
  18. Waldman, Michael, 1984. "Worker Allocation, Hierarchies and the Wage Distribution," Review of Economic Studies, Wiley Blackwell, vol. 51(1), pages 95-109, January.
  19. Luis Garicano & Esteban Rossi-Hansberg, 2005. "Organization and Inequality in a Knowledge Economy," NBER Working Papers 11458, National Bureau of Economic Research, Inc.
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