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Training Costs and Wage Differentials in the Theory of Job Competition

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  • Schlicht, Ekkehart

Abstract

A labor market is considered that is characterized by job competition over job ladders. Firms paying more for comparable jobs can attract workers with better background characteristics (with general human capital) and will lose fewer trained workers (with general and firm-specific human capital). Optimizing behavior on the side of the firms gives rise to a wage structure that shows similar correlations between training and wages as would emerge in a human capital framework, but for different reasons. Further, the wage structure responds to other influences, like the degree of labor mobility.

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Bibliographic Info

Paper provided by University of Munich, Department of Economics in its series Munich Reprints in Economics with number 1347.

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Date of creation: 1981
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Publication status: Published in Journal of Institutional and Theoretical Economics 2 137(1981): pp. 212-21
Handle: RePEc:lmu:muenar:1347

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Related research

Keywords: job competition; human capital; job ladders; specific training; general training; efficiency wages; turnover; wage structure;

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References

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  1. Salop, S. C., 1973. "Wage differentials in a dynamic theory of the firm," Journal of Economic Theory, Elsevier, vol. 6(4), pages 321-344, August.
  2. Schlicht, Ekkehart, 1981. "Reference Group Behaviour and Economic Incentives: A Remark," Munich Reprints in Economics 4183, University of Munich, Department of Economics.
  3. Harvey Leibenstein, 1975. "Aspects of the X-Efficiency Theory of the Firm," Bell Journal of Economics, The RAND Corporation, vol. 6(2), pages 580-606, Autumn.
  4. Schlicht, Ekkehart, 1978. "Labour Turnover, Wage Structure, and Natural Unemployment," Munich Reprints in Economics 1255, University of Munich, Department of Economics.
  5. Schlicht, Ekkehart & Weizs├Ącker, Carl Christian von, 1977. "Risk Financing in Labour Managed Economics: The Commitment Problem," Munich Reprints in Economics 3148, University of Munich, Department of Economics.
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Citations

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Cited by:
  1. Schlicht, Ekkehart, 2008. "Lohnspreizung und Effizienz," Discussion Papers in Economics 2117, University of Munich, Department of Economics.
  2. Schlicht, Ekkehart, . "Job Rents in a Stylized Labor Market," Chapters in Economics, University of Munich, Department of Economics.
  3. Michael Sattinger & Sumati Srinivas, 2003. "The Employment-Productivity Relation with Employment Criteria," Discussion Papers 03-07, University at Albany, SUNY, Department of Economics.
  4. Schlicht, Ekkehart, 1988. "Promotions, Elections, and Other Contests: Comment on Sherwin Rosen," Munich Reprints in Economics 3170, University of Munich, Department of Economics.

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