DIRECTED SEARCH AND FIRM SIZE*
标准定向搜索模型预测大企业支付更低工资，但数据相反。本文假设企业存在最优规模，偏离最优规模会受惩罚，当惩罚足够大时，模型可得出大企业支付更高工资的正向规模-工资差异。
Standard directed search models predict that larger firms pay lower wages than smaller firms, contrary to the data. This article proposes one way to obtain this positive size–wage differential in a directed search setting. I posit that there is an optimal size associated with a firm: A firm suffers a penalty by not operating at its optimal size. I show that if this penalty is sufficiently large the size–wage differential will be obtained. My model also gives a new way to look at the data because it highlights the importance of the distinction between intended and realized firm sizes.