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Essays in Behavioral and Labor Economics = = Ensayos en Economia del Comportamiento y Laboral.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Essays in Behavioral and Labor Economics =/
Reminder of title:	Ensayos en Economia del Comportamiento y Laboral.
remainder title:	Ensayos en Economia del Comportamiento y Laboral.
Author:	Reyes, German.
Description:	1 online resource (294 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 84-12, Section: B.
Contained By:	Dissertations Abstracts International84-12B.
Subject:	Behavioral sciences. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=30424778click for full text (PQDT)
ISBN:	9798379711672

Essays in Behavioral and Labor Economics = = Ensayos en Economia del Comportamiento y Laboral.
Reyes, German.

Essays in Behavioral and Labor Economics =Ensayos en Economia del Comportamiento y Laboral.Ensayos en Economia del Comportamiento y Laboral. - 1 online resource (294 pages)

Source: Dissertations Abstracts International, Volume: 84-12, Section: B.

Thesis (Ph.D.)--Cornell University, 2023.

Includes bibliographical references

Just like factories require physical capital-machinery, buildings, tools-to produce output, workers rely on their human capital-abilities, skills, knowledge-to accomplish job tasks. Human capital is a fundamental determinant of worker productivity and, consequently, of wages. But human capital and wages are not determined in a vacuum. Market participants like universities, firms, and peer networks shape the production of human capital and the determination of wages.This dissertation examines behavioral or "nonstandard" forces that determine human capital and affect the price of labor. I show that cognitive endurance is a highly-rewarded skill in the labor market (Chapter 1), that limited firm sophistication affects the distribution of wages (Chapter 2), and that the wage return to attending elite universities is closely linked to the value of their alumni networks (Chapter 3).In Chapter 1, "Cognitive Endurance, Talent Selection, and the Labor Market Returns to Human Capital," I study the importance of cognitive endurance-the ability to sustain performance on a cognitively-demanding task over time-for success in college and the labor market. I use college-admission-exam records from 15 million Brazilian high school students and develop a method to decompose test scores into fatigue-adjusted ability and cognitive endurance. I find that cognitive endurance has a significant wage return. Controlling for fatigue-adjusted ability and other student characteristics, a onestandard-deviation higher endurance predicts a 5.4% wage increase. I also document positive associations between endurance and college attendance, college quality, college graduation, firm quality, and other outcomes. Finally, I show how systematic differences in endurance across students interact with the exam design to determine the sorting of students to colleges.In Chapter 2, "Coarse Wage-Setting and Behavioral Firms," I study why firms often pay new hires round-numbered salaries-a puzzling fact from the perspective of canonical wage-determination models. I posit that, in the presence of uncertainty about the fully-optimal salary, firms might rely on a rule of thumb or heuristic as an approximation-a form of pricing I refer to as "coarse wage-setting." I test this hypothesis using contracted salaries of 280 million hires in Brazil. First, I show that firms that tend to hire workers at round-numbered salaries are less sophisticated and have worse market outcomes. Motivated by this reduced-form evidence, I develop a wage-posting model in which optimization frictions lead to the adoption of coarse wages and provide evidence supporting three predictions of the model using two research designs. Finally, I show that coarse wage-setting generates within-firm wage compression, increases nominal wage stickiness, and interacts with policies that affect the wage distribution, such as changes in the minimum wage.In Chapter 3, "The Direct and Spillover Effects of Large-scale Affirmative Action at an Elite Brazilian University" (with Cecilia Machado and Evan Riehl), we study a selective university in Brazil that adopted large-scale race- and income-based affirmative action. We link admission records to national employer-employee data to show that a key benefit of attending the university is access to high-paying firms affiliated with its alumni. We find that affirmative action increased disadvantaged students' access to these firms and raised their early-career earnings. But both of these benefits faded as their careers progressed. In addition, the increase in student body diversity lowered the job prospects and earnings of the university's most highly ranked students. Our findings show that affirmative action may be less effective at reducing income disparities when the benefits of admission depend on a university's alumni networks.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2023

Mode of access: World Wide Web

ISBN: 9798379711672Subjects--Topical Terms:

529833
Behavioral sciences.
Subjects--Index Terms:

Human capitalIndex Terms--Genre/Form:

542853
Electronic books.

Essays in Behavioral and Labor Economics = = Ensayos en Economia del Comportamiento y Laboral.
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500 $a Advisor: O'Donoghue, Ted.
502 $a Thesis (Ph.D.)--Cornell University, 2023.
504 $a Includes bibliographical references
520 $a Just like factories require physical capital-machinery, buildings, tools-to produce output, workers rely on their human capital-abilities, skills, knowledge-to accomplish job tasks. Human capital is a fundamental determinant of worker productivity and, consequently, of wages. But human capital and wages are not determined in a vacuum. Market participants like universities, firms, and peer networks shape the production of human capital and the determination of wages.This dissertation examines behavioral or "nonstandard" forces that determine human capital and affect the price of labor. I show that cognitive endurance is a highly-rewarded skill in the labor market (Chapter 1), that limited firm sophistication affects the distribution of wages (Chapter 2), and that the wage return to attending elite universities is closely linked to the value of their alumni networks (Chapter 3).In Chapter 1, "Cognitive Endurance, Talent Selection, and the Labor Market Returns to Human Capital," I study the importance of cognitive endurance-the ability to sustain performance on a cognitively-demanding task over time-for success in college and the labor market. I use college-admission-exam records from 15 million Brazilian high school students and develop a method to decompose test scores into fatigue-adjusted ability and cognitive endurance. I find that cognitive endurance has a significant wage return. Controlling for fatigue-adjusted ability and other student characteristics, a onestandard-deviation higher endurance predicts a 5.4% wage increase. I also document positive associations between endurance and college attendance, college quality, college graduation, firm quality, and other outcomes. Finally, I show how systematic differences in endurance across students interact with the exam design to determine the sorting of students to colleges.In Chapter 2, "Coarse Wage-Setting and Behavioral Firms," I study why firms often pay new hires round-numbered salaries-a puzzling fact from the perspective of canonical wage-determination models. I posit that, in the presence of uncertainty about the fully-optimal salary, firms might rely on a rule of thumb or heuristic as an approximation-a form of pricing I refer to as "coarse wage-setting." I test this hypothesis using contracted salaries of 280 million hires in Brazil. First, I show that firms that tend to hire workers at round-numbered salaries are less sophisticated and have worse market outcomes. Motivated by this reduced-form evidence, I develop a wage-posting model in which optimization frictions lead to the adoption of coarse wages and provide evidence supporting three predictions of the model using two research designs. Finally, I show that coarse wage-setting generates within-firm wage compression, increases nominal wage stickiness, and interacts with policies that affect the wage distribution, such as changes in the minimum wage.In Chapter 3, "The Direct and Spillover Effects of Large-scale Affirmative Action at an Elite Brazilian University" (with Cecilia Machado and Evan Riehl), we study a selective university in Brazil that adopted large-scale race- and income-based affirmative action. We link admission records to national employer-employee data to show that a key benefit of attending the university is access to high-paying firms affiliated with its alumni. We find that affirmative action increased disadvantaged students' access to these firms and raised their early-career earnings. But both of these benefits faded as their careers progressed. In addition, the increase in student body diversity lowered the job prospects and earnings of the university's most highly ranked students. Our findings show that affirmative action may be less effective at reducing income disparities when the benefits of admission depend on a university's alumni networks.
520 $a Al igual que las fabricas requieren de capital fisico-maquinas, edificios y herramientas-para producir bienes y servicios, los trabajadores dependen de su capital humano-habilidades, destrezas y conocimientos-para llevar a cabo tareas laborales. El capital humano es un determinante fundamental de la productividad de los trabajadores y, por lo tanto, de los salarios. Sin embargo, el capital humano y los salarios no se determinan en el vacio. Los agentes del mercado, como universidades, empresas y conexiones sociales, influyen en la produccion de capital humano y la determinacion de los salarios.Esta disertacion examina factores "no estandar" que determinan el capital humano y afectan el precio del trabajo. Demuestro que la resistencia cognitiva es una habilidad altamente recompensada en el mercado laboral (Capitulo 1), que la limitada sofisticacion de las empresas afecta la distribucion de los salarios (Capitulo 2) y que el retorno salarial de asistir a universidades de elite esta estrechamente vinculado al valor de sus redes de exalumnos (Capitulo 3).En el Capitulo 1, "Resistencia cognitiva, seleccion de talento y rendimientos del capital humano en el mercado laboral", estudio la importancia de la resistencia cognitiva-la capacidad de mantener el rendimiento en una tarea cognitivamente exigente a lo largo del tiempo-para el exito en la universidad y el mercado laboral. Utilizo registros de examenes de ingreso a la universidad de 15 millones de estudiantes de secundaria brasilenos y desarrollo un metodo para descomponer las puntuaciones de las pruebas en habilidad ajustada por fatiga y resistencia cognitiva. Encuentro que la resistencia cognitiva tiene una prima salarial significativa. Controlando por la habilidad ajustada por fatiga y otras caracteristicas de los estudiantes, una resistencia superior en una desviacion estandar predice un aumento salarial del 5,4%. Tambien documento asociaciones positivas entre la resistencia cognitiva y la asistencia a la universidad, la calidad de la universidad, la graduacion universitaria, la calidad de la empresa y otras variables. Finalmente, muestro como las diferencias sistematicas en la resistencia entre los estudiantes interactuan con el diseno del examen para determinar la clasificacion de los estudiantes en las universidades.En el Capitulo 2, "Determinacion salarial tosca y conducta no estandar de las empresas", estudio por que las empresas a menudo pagan a los nuevos empleados salarios en numeros redondos, un hecho desconcertante desde la perspectiva de los modelos canonicos de determinacion de salarios. Postulo que, en presencia de incertidumbre sobre el salario optimo, las empresas usan heuristicas como una aproximacion, una forma de fijacion de salario a la que me refiero como "determinacion salarial tosca". Pongo a prueba esta hipotesis utilizando los salarios de 280 millones de trabajadores en Brasil. Primero, muestro que las empresas que tienden a contratar trabajadores con salarios redondos son menos sofisticadas y tienen peores resultados en el mercado. Motivado por estos hechos estilizados, desarrollo un modelo de fijacion de salarios en el que fricciones de optimizacion llevan a la adopcion de salarios toscos y proporciono evidencia que respalda tres predicciones del modelo utilizando dos estrategias empiricas. Finalmente, muestro que el establecimiento de salarios toscos genera compresion salarial dentro de la empresa, aumenta la rigidez salarial nominal e interactua con politicas que afectan la distribucion de salarios, como cambios en el salario minimo.En el Capitulo 3, "Los efectos directos y de derrame de la accion afirmativa a gran escala en una universidad brasilena de elite" (con Cecilia Machado y Evan Riehl), estudiamos una universidad selectiva en Brasil que adopto una politica de accion afirmativa a gran escala basada en raza e ingresos. Vinculamos los registros de admision con datos nacionales de empleadores y empleados para demostrar que un beneficio clave de asistir a la universidad es el acceso a empresas que pagan alto salarios y que estan afiliadas a su red de exalumnos. Descubrimos que la accion afirmativa aumento el acceso de los estudiantes desfavorecidos a estas empresas e incremento sus ingresos iniciales en la carrera. Sin embargo, ambos beneficios disminuyeron a medida que sus carreras avanzaron. Por otra parte, el aumento en la diversidad del cuerpo estudiantil redujo las perspectivas laborales y los ingresos de los estudiantes mas destacados de la universidad. Nuestros hallazgos muestran que la accion afirmativa puede ser menos efectiva para reducir las disparidades de ingresos cuando los beneficios de la admision dependen de las redes de exalumnos de la universidad.
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538 $a Mode of access: World Wide Web
650 4 $a Behavioral sciences. $3 529833
653 $a Human capital
653 $a Labor productivity
653 $a Returns to education
653 $a Wage differentials
653 $a Wage level and structure
653 $a Wage-setting
655 7 $a Electronic books. $2 lcsh $3 542853
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710 2 $a Cornell University. $b Economics. $3 3341359
773 0 $t Dissertations Abstracts International $g 84-12B.
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