Shengwu Li
Harvard University
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Firms are allowed to use aggregate data on market salaries to set pay, a practice known as salary benchmarking. Using national payroll data, we study firms that gain access to a tool that reveals market benchmarks for each job title. Using a difference-indifferences design, we find that the...
Author(s) - Daniel Keniston, Bradley J. Larsen, Shengwu Li, J.J. Prescott, Bernardo S. Silveira & Chuan Yu
This paper uses detailed data on sequential offers from seven vastly different real-world bargaining settings to document a robust pattern: agents favor offers that split the difference between the two most recent offers on the table. Our settings include negotiations for used cars, insurance injury...
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