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The timing of education

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  • Thomas Gall
  • Patrick Legros
  • Andrew Newman

Abstract

We 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 Info

Paper provided by ULB -- Universite Libre de Bruxelles in its series ULB Institutional Repository with number 2013/7026.

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Date of creation: 2006
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Publication status: Published in: European Economic Association. Journal (2006)
Handle: RePEc:ulb:ulbeco:2013/7026

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Cited by:
  1. 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.
  2. Thomas Gall & Patrick Legros & Andrew F. Newman, 2009. "Mis-match, Re-match, and Investment," Boston University - Department of Economics - The Institute for Economic Development Working Papers Series dp-189, Boston University - Department of Economics.
  3. Gall, Thomas, 2013. "Surplus efficiency of ex ante investments in matching markets with nontransferabilities," Discussion Paper Series In Economics And Econometrics 360186, Economics Division, School of Social Sciences, University of Southampton.
  4. Andrea, Canidio, 2010. "Absorptive capacity, the allocation of scientists, and firms' research productivity," MPRA Paper 30257, University Library of Munich, Germany.
  5. Andrea, Canidio, 2009. "The production of science," MPRA Paper 25218, University Library of Munich, Germany.

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