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Choosing Workers' Qualifications: No Experience Necessary?

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  • Lewis, Tracy R
  • Sappington David E M

Abstract

We examine an employer's preferences regarding the education, prior experience, or training of the worker she hires. Although a worker's education may be observable, his productivity on the job is often privately observed. Higher levels of education increase the chances that the worker will have high productivity on the job. The employer's preferences are shown to depend critically on the nature of the adverse selection problem she faces: high levels of education are favored for workers with idiosyncratic skills, while low levels of education are preferred for versatile workers, whose skills are transferable. Copyright 1993 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

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Bibliographic Info

Article provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.

Volume (Year): 34 (1993)
Issue (Month): 3 (August)
Pages: 479-502

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Handle: RePEc:ier:iecrev:v:34:y:1993:i:3:p:479-502

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Cited by:
  1. Ohlendorf, Susanne & Schmitz, Patrick W., 2008. "Repeated Moral Hazard, Limited Liability, and Renegotiation," CEPR Discussion Papers 6725, C.E.P.R. Discussion Papers.
  2. Cremer, J. & Khalil, F & Rochet, J.-C., 1996. "Strategic Information Gathering Before a Contract is Offered," Papers 976.425, Toulouse - GREMAQ.
  3. Ohlendorf, Susanne & Schmitz, Patrick W., 2011. "Repeated moral hazard and contracts with memory: The case of risk-neutrality," MPRA Paper 28823, University Library of Munich, Germany.

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