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SUMMARY:Who's in Favor of Competition?
DTSTART:20200313T103000
DTEND:20200313T120000
DTSTAMP:20260526T033239Z
UID:63cc1322ba7fef089bd89f8cb1f03d4a8a09d65b3d1096a6933c39c8
CATEGORIES:Conferences - Seminars
DESCRIPTION:Simcha BARKAI\, London Business School\nIncreasing competition
  between firms is not a Pareto-improving policy. Increasing competition re
 distributes income from the owners of firms to workers. This redistributio
 n occurs through higher wages and lower asset prices. We use microdata fro
 m the Survey of Consumer Finances to empirically construct the gains and l
 osses to households from increasing competition. We classify a household a
 s in favor of competition if their gains from higher wages are larger than
  the loss on their portfolio of corporate securities. Nearly all young hou
 seholds favor increasing competition. The fraction of households in favor 
 of competition declines with age. High labor income households accumulate 
 corporate securities at a much higher rate than low labor income household
 s and as a result they oppose competition from a younger age. A large majo
 rity of households favor increasing competition. Despite being a minority\
 , households that oppose increasing competition own the vast majority of r
 esources in the economy.\n\nPaper: Link\n 
LOCATION:UNIL\, Extranef\, room 126 https://planete.unil.ch/plan/?local=EX
 T-126
STATUS:CANCELLED
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