We have seen much about Bob Lucas' macro contributions these days, but he also had a highly influential contribution to the theory of the firm: the "assigment theory of the firm", which explains, for instance, why Musk earns so much (and controls so

Peter G. Klein @petergklein · May 22, 2023

Great thread on an underappreciated Lucas contribution to organizational economics.

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by Luis Garicano 🇪🇺🇺🇦

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