Hundreds of billions of dollars of public spending each year goes toward funding infrastructure in the US, about 40% of which goes towards building, repairing, and maintaining roads and bridges. Given the level of spending and the economic and social importance of the investment, local transportation authorities have sought to apply efficient mechanisms for […]

Microeconomic Insights

14.09.2024

Equilibrium Effects of Pay Transparency | Microeconomic Insights

Francis Bacon coined the famous phrase “knowledge is power.” This simple idea is used to champion pay transparency to empower women and minority workers. Advocates argue that workers don’t know what their employer is willing to pay, and more information about coworker pay allows for renegotiations, which raise up and equalize wages, especially those of […]

Microeconomic Insights

21.11.2024

Worker Beliefs About Outside Options | Microeconomic Insights

Firms differ substantially in the wages they pay to similar workers. Standard models of the labor market assume that workers have accurate beliefs about the differences in wages across firms, including in bargaining models and wage posting models with search. While this fundamental assumption remains untested, its violation—in the form of worker misperceptions about the […]

Microeconomic Insights

20.12.2024

Expanding renewable energy: lessons from Chile | Microeconomic Insights

Effective and economical expansion of renewable energy is one of the most urgent challenges for addressing climate change. Along with the transport sector, the electricity sector generates one of the largest shares of global greenhouse gas emissions. In addition, a significant part of the transport sector is expected to be electrified in the near future. […]

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The case for scaling auctions when spending on infrastructure | Microeconomic Insights

Equilibrium Effects of Pay Transparency | Microeconomic Insights

Worker Beliefs About Outside Options | Microeconomic Insights

Expanding renewable energy: lessons from Chile | Microeconomic Insights

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