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DTSTART;VALUE=DATE:20240909
DTEND;VALUE=DATE:20240917
DTSTAMP:20260710T153918
CREATED:20240731T084930Z
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SUMMARY:Market Power\, Randomization and Regulation\, Simon Loertscher (University of Melbourne)
DESCRIPTION:  \n\n\n\n  \n  \nSCHEDULE\n  \nMonday\n9th September 2024 \n16th September 2024\nFrom 9:00 to 12:15 \nFrom 13:30 to 16:45\n  \nRoom 2003\n\n\n  \nThursday\n  \n12th September 2024\n  \nFrom 13:30 to 16:45\n  \nRoom 2003\n\n\n\nOutline\nMonopoly and monopsony pricing problems are of long-standing interest in economics. With the\nemergence of large online platforms in the digital age\, they have received renewed salience and attention.\nThis course provides an overview of recent theoretical advances based on incomplete information models.\nThese shed new light on a broad array of issues\, ranging from the optimality of rationing and involuntary\nunemployment to resale\, opaque pricing by multi-product monopolies\, market definition in antitrust and\nmerger effects to optimal regulation in the tradition of Ramsey.\nThe incomplete information approach not only provides a coherent explanation for otherwise puzzling\nphenomena. For example\, why does the seller of concert tickets underprice these\, thereby inviting resale\,\nrather than set a market-clearing price? Why do multi-product sellers offer opaque products\, leaving buyers\nin the dark as to what they purchased until after the fact? It also implies that\, because of incentive\ncompatibility\, perfect price discrimination is not possible\, and it permits clear-cut predictions of the form\nprice discrimination takes\, with and without resale. By assuming that the firm always chooses the optimal\nmechanism\, the approach is immune to the criticism that its predictions hinge on ad-hoc restrictions. A\ntradeoff between social surplus and profit derives from the primitives. \n\n
URL:https://crest.science/event/market-power-randomization-and-regulation-simon-loertscher-university-of-melbourne/
CATEGORIES:Doctoral Courses,Economics
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DTSTART;TZID=Europe/Helsinki:20240910T121500
DTEND;TZID=Europe/Helsinki:20240910T133000
DTSTAMP:20260710T153918
CREATED:20240731T114423Z
LAST-MODIFIED:20240826T092042Z
UID:17211-1725970500-1725975000@crest.science
SUMMARY:Léonard BOCQUET (PSE-Cambridge) "The Network Origin of Slow Labor Reallocation"
DESCRIPTION:Applied Micro Seminar : Every Tuesday \nTime: 12:15 pm – 13:30 pm\nDate: 10th of September\nRoom : 3001 \n  \nLéonard BOCQUET (PSE-Cambridge) – “The Network Origin of Slow Labor Reallocation” \n  \nAbstract : \nThis paper studies the slow reallocation of workers across occupations following trade and technology shocks. Using administrative data on worker skills\, I construct a network of occupations and find that it is (1) sparse\, (2) features clusters of occupations with similar skills\, and (3) exhibits a few ‘bridge occupations’ linking distinct clusters. Employer-employee data reveal that transitions through these bridges help workers reallocate to better employment opportunities. To explain this\, I develop a job search model within networks and demonstrate that bridge occupations can create bottlenecks which significantly affect reallocation speed. A quantitative version of the model\, calibrated to French data\, shows that the arrival of automation and AI imply slow reallocation. However\, policies targeting bridge occupations can substantially accelerate the process\, by helping workers reskill. These findings highlight the importance of the occupation network for the economy’s adjustment to reallocation shocks and for the design of labor market policies. \n  \n  \nOrganizers:\nBenoît SCHMUTZ (Pôle d’économie du CREST)\nClément MALGOUYRES (Pôle d’économie du CREST)\nSponsors:\nCREST \n
URL:https://crest.science/event/leonard-bocquet-pse-cambridge-t-b-a/
CATEGORIES:Applied Seminar,Seminars
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