Sharing the Cost of Investment in General Training
It is known that risk-neutral workers bear the full costs of general training. This result is contingent upon the assumption that all firms have complete information about workers' postinvestment productivities. The authors show that, if information is not perfect, the better-informed employer will share the costs of and returns on investment in general training, contrary to Gary Becker's claim. Copyright 1990 by Blackwell Publishers Ltd/University of Adelaide and Flinders University of South Australia
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Volume (Year): 29 (1990)
Issue (Month): 55 (December)
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