The timing of education
AbstractWe study an assignment-with-investment model to highlight a tradeoff between investment in human capital before (ex ante system) and after (ex post system) matching on the labor market. The ex post system is better at coordinating investment within firms whereas the ex ante system is better at reducing mismatches. We further show that the ability to transfer surplus within firms affects mismatches and the relative performance of the two systems. At high degrees of transferability, they are equivalent. But when transferability is very low, the ex post system outperforms the ex ante system, although with moderate transferability the reverse is true. (JEL: I21, I28, J31, J42) (c) 2006 by the European Economic Association.
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Bibliographic InfoPaper provided by ULB -- Universite Libre de Bruxelles in its series ULB Institutional Repository with number 2013/7026.
Date of creation: 2006
Date of revision:
Publication status: Published in: European Economic Association. Journal (2006)
Other versions of this item:
- I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
- I28 - Health, Education, and Welfare - - Education - - - Government Policy
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
- J42 - Labor and Demographic Economics - - Particular Labor Markets - - - Monopsony; Segmented Labor Markets
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- George Mailath & Andrew Postlewaite & Larry Samuelson, 2012.
"Premuneration Values and Investments in Matching Markets,"
PIER Working Paper Archive
12-008, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
- George J. Mailath & Andrew Postlewaite & Larry Samuelson, 2013. "Premuneration Values and Investments in Matching Markets," PIER Working Paper Archive 13-060, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
- Andrea, Canidio, 2009. "The production of science," MPRA Paper 25218, University Library of Munich, Germany.
- Andrea, Canidio, 2010. "Absorptive capacity, the allocation of scientists, and firms' research productivity," MPRA Paper 30257, University Library of Munich, Germany.
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