Human Capital Externalities with Monopsonistic Competition
AbstractThis paper provides a novel microeconomic foundation for pecuniary human capital externalities in a labor market model of monopsonistic competition. Multiple equilibria arise because of a strategic complementarity in investment decisions.
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Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 3729.
Length: 11 pages
Date of creation: Sep 2008
Date of revision:
Publication status: published in: Economics Letters, 2010, 106 (2), 95-97
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Other versions of this item:
- Kaas, Leo, 2010. "Human capital externalities with monopsonistic competition," Economics Letters, Elsevier, vol. 106(2), pages 95-97, February.
- D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-10-13 (All new papers)
- NEP-BEC-2008-10-13 (Business Economics)
- NEP-HRM-2008-10-13 (Human Capital & Human Resource Management)
- NEP-LAB-2008-10-13 (Labour Economics)
- NEP-MIC-2008-10-13 (Microeconomics)
- NEP-URE-2008-10-13 (Urban & Real Estate Economics)
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.:
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- Kaas, Leo & Madden, Paul, 2006.
"Holdup in Oligopsonistic Labour Markets: A New Role for the Minimum Wage,"
IZA Discussion Papers
2043, Institute for the Study of Labor (IZA).
- Kaas, Leo & Madden, Paul, 2008. "Holdup in oligopsonistic labour markets - a new role for the minimum wage," Labour Economics, Elsevier, vol. 15(3), pages 334-349, June.
- V. Bhaskar & Ted To, 1996.
"Minimum Wages for Ronald McDonald Monopsonies: A Theory of Monopsonistic Competition,"
Labor and Demography
9603001, EconWPA, revised 21 May 1996.
- Bhaskar, V & To, Ted, 1999. "Minimum Wages for Ronald McDonald Monopsonies: A Theory of Monopsonistic Competition," Economic Journal, Royal Economic Society, vol. 109(455), pages 190-203, April.
- Acemoglu, Daron, 1996. "A Microfoundation for Social Increasing Returns in Human Capital Accumulation," The Quarterly Journal of Economics, MIT Press, vol. 111(3), pages 779-804, August.
- Steven C. Salop, 1979. "Monopolistic Competition with Outside Goods," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 141-156, Spring.
- Azariadis, Costas & Drazen, Allan, 1990. "Threshold Externalities in Economic Development," The Quarterly Journal of Economics, MIT Press, vol. 105(2), pages 501-26, May.
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