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BEGIN:VEVENT
DTSTAMP:20260505T014757Z
DTSTART;VALUE=DATE-TIME:20230606T141500
DTEND;VALUE=DATE-TIME:20230606T153000
SUMMARY:Applied Economics\, Econometrics & Public Policy (CAGE) Seminar -
  Nina Roussille (MIT)
TZID:Europe/London
UID:20230606-8a17841a855895ec0185786bf4aa4345@warwick.ac.uk
CREATED:20230601T160431Z
DESCRIPTION:Title: Bidding for Talent: A Test of Conduct on a High-Wage L
 abor Market Abstract: We propose a novel procedure for adjudicating betw
 een models of firm wage-setting conduct. Using data on workers' choice s
 ets and decisions over real jobs from a U.S. job search platform\, we fi
 rst estimate workers' rankings over firms' non-wage amenities. We docume
 nt three key findings: 1) On average\, workers are willing to accept 12.
 3% lower salaries for a 1-S.D. improvement in amenities. 2) Between-work
 er preference dispersion is equally large\, indicating that preferences 
 are not well-described by a single ranking. 3) Augmenting differentials 
 prevail. Following the modern IO literature\, we then use those estimate
 s to formulate a test of conduct based on exclusion restrictions. Oligop
 sonistic models incorporating strategic interactions between firms and t
 ailoring of wage offers to workers' outside options are rejected in favo
 r of simpler monopsonistic models featuring near-uniform markdowns. Miss
 pecification has meaningful consequences: while our preferred model pred
 icts average markdowns of 18%\, others predict average markdowns of 26% 
 (about 50% larger).
LOCATION:S2.79
CATEGORIES:Applied & Development Economics Seminar
LAST-MODIFIED:20230601T160431Z
ORGANIZER;CN=Gill Gudger:
END:VEVENT
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