The Law of One Price and a Theory of the Firm: A Ricardian Perspective on Interindustry Wages
用层级视角解释行业间工资和资本密集度的差异：生产率高的行业支付更高工资且资本更密集，关键在于主管同时监督和协调下属，时间分配存在权衡。
I use a hierarchical perspective to explain the pattern of interindustry wages and capital intensities. Industries that have more productive technologies pay more than less-productive ones, and are more capital intensive as well. Results on size of the hierarchy, effort levels, and span of control are presented as well. The key insight is that supervisors both monitor and coordinate their subordinates, and time spent on one of these activities reduces the time available for the other. Several stylized facts are explained thereby.