What money can't buy: Efficient mechanism design with costly signals

What Money Cannot Buy? Compassion in Healthcare: A Response to the Recent Commentaries

Erotic Entitlements Part I: A Reply to Sex Therapy in the Age of Viagra: “Money Can't Buy Me Love”

Optimal Allocation of Public Services Without Monetary Transfers or Costly Signals

We study the social planner’s problem of designing a mechanism to optimally allocate a set of public services to a set of heterogeneous agents with private utilities, without the ability to differentiate agents by charging prices or requiring costly effort. This is motivated by the 2012-2013 Boston school choice reform, in which social planners had to design a school choice lottery to allocate ...

Money, Search and Costly Matchmaking

I examine the robustness of monetary equilibria in a random matching model where a more efficient mechanism for trade is available. Agents choose between two trading sectors: the search and the intermediated sector. In the former, trade partners arrive randomly and there is a trading externality. In the latter a costly matching technology provides deterministic double-coincidence matches. Multi...

Good parents not money

P matter. That's the message of Susan Mayer's new book. What Money Can't Buy.^ The University of Ghicago sociologist's sophisticated and often ingenious analyses lead her to conclude that parents' characteristics are more important than their income in determining how well they raise their children and, hence, how well their children will do in later life. Thus Mayer argues that giving low-inco...