Imperfect Information and Training Quality
AbstractThis paper develops a theoretical model in which the level of training provided by a firm is not observed by workers. It is therefore not possible to have training wages completely contingent upon the level of training provided. Training wages will be too high. This, in turn, prevents firms from recouping the full benefits from training and leads to underinvestment. The more general the training is, the more severe this underinvestment problem.
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Bibliographic InfoPaper provided by Maastricht : ROA, Research Centre for Education and the Labour Market in its series Research Memoranda with number 002.
Date of creation: 2003
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education; training and the labour market;
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- NEP-ALL-2003-11-30 (All new papers)
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