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Job quality and wages in duopsony

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Author Info
Jürgen Figerl () (Department of Economics, Vienna University of Economics & B.A.)
Thomas Grandner () (Department of Economics, Vienna University of Economics & B.A.)
Abstract

In a simple oligopsonistic model, firms compete for labour through wages and job qualities. We modify the product market model developed by Vandenbosch/Weinberg 1995 and apply it to the job market with jobs being defined by two vertically differentiated non-wage characteristics. Workers differ in their valuation of these two characteristics but do not differ in their productivity. In equilibrium firms offer different wages and differ in only one of these non-wage characteristics. Whereas our labour market model is based on firms, we apply subclasses according to the UK SIC(2003) in our empirical analysis. When comparing subclasses within selected sectors (WERS) we found evidence that firms compete in both wages and job qualities.

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Paper provided by Vienna University of Economics and B.A., Department of Economics in its series Department of Economics Working Papers with number wuwp121.

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Date of creation: Jun 2008
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Handle: RePEc:wiw:wiwwuw:wuwp121

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J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General

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  1. Steven C. Salop, 1979. "Monopolistic Competition with Outside Goods," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 141-156, Spring. [Downloadable!] (restricted)
  2. Irmen, Andreas & Thisse, Jacques-Francois, 1998. "Competition in Multi-characteristics Spaces: Hotelling Was Almost Right," Journal of Economic Theory, Elsevier, vol. 78(1), pages 76-102, January. [Downloadable!] (restricted)
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  3. V. Bhaskar & Alan Manning & Ted To, 2002. "Oligopsony and Monopsonistic Competition in Labor Markets," Journal of Economic Perspectives, American Economic Association, vol. 16(2), pages 155-174, Spring. [Downloadable!] (restricted)
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