AbstractThis article deals with the issues of different theoretical approaches to education. Education is seen as a tool, how to distinct different marginal productivities of employees. We start from the fact of an information asymmetry on the labour markets, asymmetry between employers and potential employees. Based on this we try to apply the concept to the Czech environment and specifically to the difference between master and bachelor/specialist degrees. We come out from the statistical facts that the master graduates reach much higher wage rates than bachelor graduates. The article finds the signs of two competing explanations of that fact, the human capital theory and the signaling theory.
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Bibliographic InfoArticle provided by University of Economics, Prague in its journal Ekonomika a Management.
Volume (Year): 2010 (2010)
Issue (Month): 4 ()
Postal: Redakce Ekonomika a management, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3
Find related papers by JEL classification:
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Spence, A Michael, 1973. "Job Market Signaling," The Quarterly Journal of Economics, MIT Press, vol. 87(3), pages 355-74, August.
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