Monopsony and Employer Misoptimization Explain Why Wages Bunch at Round Numbers
研究发现行政工资数据在整数处大量聚集，通过实验和行政数据检验，排除了劳动力供给的左侧数字偏差，提出雇主优化失误是导致工资整数聚集的原因，且买方垄断程度越高，所需优化失误越小。
We show that administrative hourly wage data exhibit considerable bunching at round numbers. We run two experiments randomizing wages around $0.10 and $1.00 to experimentally measure left-digit bias for identical tasks on Amazon Mechanical Turk; we fail to find any evidence of discontinuity in the labor supply function at round numbers despite estimating a considerable degree of monopsony. We replicate these results in administrative worker-firm hourly wage data from Oregon. We can rule out inattention estimates found in the behavioral product market literature. We provide evidence that firms “misoptimize” wage setting. More monopsony requires less employer misoptimization to explain bunching.