{"title":"On Human Capital and Team Stability","authors":"P. Chiappori, B. Salanié, Alfred Galichon","doi":"10.1086/702925","DOIUrl":null,"url":null,"abstract":"In many economic contexts, agents from the same population team up to better exploit their human capital. In such contexts (often called “roommate matching problems”), stable matchings may fail to exist even when utility is transferable. We show that when each individual has a close substitute, a stable matching can be implemented with minimal policy intervention. Our results shed light on the stability of partnerships in the labor market. Moreover, they imply that the tools crafted in empirical studies of the marriage problem can easily be adapted to many roommate problems.","PeriodicalId":46011,"journal":{"name":"Journal of Human Capital","volume":"13 1","pages":"236 - 259"},"PeriodicalIF":1.6000,"publicationDate":"2019-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1086/702925","citationCount":"11","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Human Capital","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1086/702925","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 11
Abstract
In many economic contexts, agents from the same population team up to better exploit their human capital. In such contexts (often called “roommate matching problems”), stable matchings may fail to exist even when utility is transferable. We show that when each individual has a close substitute, a stable matching can be implemented with minimal policy intervention. Our results shed light on the stability of partnerships in the labor market. Moreover, they imply that the tools crafted in empirical studies of the marriage problem can easily be adapted to many roommate problems.
期刊介绍:
Journal of Human Capital is dedicated to human capital and its expanding economic and social roles in the knowledge economy. Developed in response to the central role human capital plays in determining the production, allocation, and distribution of economic resources and in supporting long-term economic growth, JHC is a forum for theoretical and empirical work on human capital—broadly defined to include education, health, entrepreneurship, and intellectual and social capital—and related public policy analyses. JHC encompasses microeconomic, macroeconomic, and international economic perspectives on the theme of human capital. The journal offers a platform for discussion of topics ranging from education, labor, health, and family economics.