Digitized by the Internet Archive in 2011 with Funding from Boston Library Consortium Iviember Libraries Working Paper Department of Economics 'an Asymmetric Least Squares Test of Heteroscedasticity

Digitized by the Internet Archive in 2011 with Funding from Boston Library Consortium Iviember Libraries Working Paper Department of Economics R

Digitized by the Internet Archive in 2011 with Funding from Boston Library Consortium Iviember Libraries Working Paper Department of Economics 4he Benefits of Price

Digitized by the Internet Archive in 2011 with Funding from Boston Library Consortium Iviember Libraries Working Paper Department of Economics the Effects of Competition and Regulation on Hospital Bed Supply and the Reservation Quality of the Hospital

Digitized by the Internet Archive in 2011 with Funding from Boston Library Consortium Iviember Libraries Working Paper Department of Economics Owner Consumers and Efficiency

Owner-Consumers and Efficiency Joseph Farrell GTE Laboratories If each household owns the same fraction of a firm as its share of consumption, shareholders unanimously want marginal-cost pricing. Otherwise, profits are overemphasised relative to consumer surplus.

Digitized by the Internet Archive in 2011 with Funding from Boston Library Consortium Iviember Libraries Working Paper Department of Economics Technology, Unemployment and Efficiency

This paper analyzes technology choices and unemployment in search equilibrium. In contrast to standard search models, the presence of technology choices makes the decentralized equilibrium inefficient; there is too httle investment in skills, too little job creation and there can be multiple equilibria. The paper also shows that technological progress is likely to be slower in labor markets whe...