Michael Waldman
Biographic Data
| ID | 3772820 |
|---|---|
| NAME | Michael Waldman |
| GIVEN NAMES | Michael |
| FAMILY NAME | Waldman |
| SIGNATURE | WALDMAN M |
| AFFILIATIONS | Cornell University |
| ORCID | 0000-0002-2103-706X |
| VERIFIED | Yes |
| TOTAL WORKS | 9 |
| TOTAL CITATIONS | 16 |
| AUTHOR COUNT | 9 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1984 |
| LATEST PUBLICATION YEAR | 2025 |
| H-INDEX | 3 |
Promotions, Adverse Selection, and Efficiency
We consider how adverse selection affects the efficiency of turnover and postturnover job assignments. In the model, when a high-ability worker is not promoted at the worker’s current employer because of a lack of available managerial openings, it is efficient for the worker to move to a firm seeking a high-ability worker to promote. But this type of turnover does not occur given asymmetric information and adverse selection. We show that up-or-ou…
Supermajority
Bonuses and Promotion Tournaments
Standard models of promotion tournaments do not distinguish between wages and bonuses and thus cannot explain variation in the use of bonuses. We combine classic and market-based tournament theories to develop a model in which wages and bonuses serve distinctly different roles. We use this model to derive testable predictions which we test employing both a single firm data set and a data set encompassing a large segment of the Finnish economy. Ou…
Upgrades, Switching Costs and the Leverage Theory of Tying
Journal Article Upgrades, Switching Costs and the Leverage Theory of Tying Get access Dennis W. Carlton, Dennis W. Carlton University of Chicago and NBER Cornell University Search for other works by this author on: Oxford Academic Google Scholar Michael Waldman Michael Waldman University of Chicago and NBER Cornell University Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 122, Issue 561, 1 Ju…
Durable Goods Theory for Real World Markets
The early 1970s witnessed three major advances in durable-goods theory - Swan, Peter. 1970. "Durability of Consumption Goods." American Economic Review. December, 60:5, pp. 884-94. Swan, Peter. 1971. "The Durability of Goods and Regulation of Monopoly." Bell Journal of Economics. Spring, 2:1, pp. 347-57. and Sieper, E. and Peter Swan. 1973. "Monopoly and Competition in the Market for Durable Goods." Review of Economic Studies. July, 40:3, pp. 333…
The Firm As a Nexus of Treaties
Part 1 Knowledge - its acquisition, sharing and/or asymmetry: the participatory generation of information rents and the theory of the firm, Masahiko Aoki common knowledge and the co-ordination of economic activities, Jacques Cremer profit sharing, information and employment, Matti Pohjola. Part 2 Vertical integration and the strategic management of the enterprise: what is vertical integration?, Michael H.Riordan vertical integration, transaction …
Responders Versus Non-Responders
Journal Article Responders Versus Non-Responders: A New Perspective on Heterogeneity Get access John Haltiwanger, John Haltiwanger University of Maryland Search for other works by this author on: Oxford Academic Google Scholar Michael Waldman Michael Waldman University of California, Los Angeles and Cornell University Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 101, Issue 408, 1 September …
Passions within Reason
The Effects of Increased Copyright Protection
Previous authors who have considered partially nonexcludable goods have claimed that an increase in copyright protection will have the following two effects on social welfare. First, it will decrease the social welfare loss due to underproduction. Second, it will increase the social welfare loss due to underutilization. In this paper we investigate these claims in a formal setting by analyzing a model in which consumers vary only in terms of thei…
The Effects of Increased Copyright Protection
Previous authors who have considered partially nonexcludable goods have claimed that an increase in copyright protection will have the following two effects on social welfare. First, it will decrease the social welfare loss due to underproduction. Second, it will increase the social welfare loss due to underutilization. In this paper we investigate these claims in a formal setting by analyzing a model in which consumers vary only in terms of thei…
Bonuses and Promotion Tournaments
Standard models of promotion tournaments do not distinguish between wages and bonuses and thus cannot explain variation in the use of bonuses. We combine classic and market-based tournament theories to develop a model in which wages and bonuses serve distinctly different roles. We use this model to derive testable predictions which we test employing both a single firm data set and a data set encompassing a large segment of the Finnish economy. Ou…
Durable Goods Theory for Real World Markets
The early 1970s witnessed three major advances in durable-goods theory - Swan, Peter. 1970. "Durability of Consumption Goods." American Economic Review. December, 60:5, pp. 884-94. Swan, Peter. 1971. "The Durability of Goods and Regulation of Monopoly." Bell Journal of Economics. Spring, 2:1, pp. 347-57. and Sieper, E. and Peter Swan. 1973. "Monopoly and Competition in the Market for Durable Goods." Review of Economic Studies. July, 40:3, pp. 333…
Responders Versus Non-Responders
Journal Article Responders Versus Non-Responders: A New Perspective on Heterogeneity Get access John Haltiwanger, John Haltiwanger University of Maryland Search for other works by this author on: Oxford Academic Google Scholar Michael Waldman Michael Waldman University of California, Los Angeles and Cornell University Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 101, Issue 408, 1 September …
The Effects of Increased Copyright Protection
Previous authors who have considered partially nonexcludable goods have claimed that an increase in copyright protection will have the following two effects on social welfare. First, it will decrease the social welfare loss due to underproduction. Second, it will increase the social welfare loss due to underutilization. In this paper we investigate these claims in a formal setting by analyzing a model in which consumers vary only in terms of thei…
Passions within Reason
Responders Versus Non-Responders
Journal Article Responders Versus Non-Responders: A New Perspective on Heterogeneity Get access John Haltiwanger, John Haltiwanger University of Maryland Search for other works by this author on: Oxford Academic Google Scholar Michael Waldman Michael Waldman University of California, Los Angeles and Cornell University Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 101, Issue 408, 1 September …
The Firm As a Nexus of Treaties
Part 1 Knowledge - its acquisition, sharing and/or asymmetry: the participatory generation of information rents and the theory of the firm, Masahiko Aoki common knowledge and the co-ordination of economic activities, Jacques Cremer profit sharing, information and employment, Matti Pohjola. Part 2 Vertical integration and the strategic management of the enterprise: what is vertical integration?, Michael H.Riordan vertical integration, transaction …
Durable Goods Theory for Real World Markets
The early 1970s witnessed three major advances in durable-goods theory - Swan, Peter. 1970. "Durability of Consumption Goods." American Economic Review. December, 60:5, pp. 884-94. Swan, Peter. 1971. "The Durability of Goods and Regulation of Monopoly." Bell Journal of Economics. Spring, 2:1, pp. 347-57. and Sieper, E. and Peter Swan. 1973. "Monopoly and Competition in the Market for Durable Goods." Review of Economic Studies. July, 40:3, pp. 333…
Upgrades, Switching Costs and the Leverage Theory of Tying
Journal Article Upgrades, Switching Costs and the Leverage Theory of Tying Get access Dennis W. Carlton, Dennis W. Carlton University of Chicago and NBER Cornell University Search for other works by this author on: Oxford Academic Google Scholar Michael Waldman Michael Waldman University of Chicago and NBER Cornell University Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 122, Issue 561, 1 Ju…
Bonuses and Promotion Tournaments
Standard models of promotion tournaments do not distinguish between wages and bonuses and thus cannot explain variation in the use of bonuses. We combine classic and market-based tournament theories to develop a model in which wages and bonuses serve distinctly different roles. We use this model to derive testable predictions which we test employing both a single firm data set and a data set encompassing a large segment of the Finnish economy. Ou…
Supermajority
Promotions, Adverse Selection, and Efficiency
We consider how adverse selection affects the efficiency of turnover and postturnover job assignments. In the model, when a high-ability worker is not promoted at the worker’s current employer because of a lack of available managerial openings, it is efficient for the worker to move to a firm seeking a high-ability worker to promote. But this type of turnover does not occur given asymmetric information and adverse selection. We show that up-or-ou…
Economics (7 works) · Computer Science (5 works) · Sociology (5 works) · Microeconomics (4 works) · Law (3 works) · Political science (3 works) · Coase theorem (2 works) · Digital Platforms and Economics (2 works) · Download (2 works) · Economic Policies and Impacts (2 works)