Oligopsony and Monopsonistic Competition in Labor Markets
AbstractWe argue that models of oligopsony or monopsonistic competition provide insights and explanation for many empirical phenomena in labor markets. Using a simple model with job differentiation and preference heterogeneity, we illustrate how such models can be employed to explain the existence of wage dispersion, the persistence of labor market discrimination, market failures in the provision of training and the anomalous employment effects of minimum wages.
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Bibliographic InfoArticle provided by American Economic Association in its journal Journal of Economic Perspectives.
Volume (Year): 16 (2002)
Issue (Month): 2 (Spring)
Other versions of this item:
- Bhaskar, V. & Manning, A. & To, T., 2002. "Oligopsony and monopsonistic competition in labor markets," Open Access publications from University College London http://discovery.ucl.ac.u, University College London.
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