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Sharing the Cost of Investment in General Training

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  • Chiang, Shih-Chen
  • Chiang, Shin-Hwan

Abstract

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

Suggested Citation

  • Chiang, Shih-Chen & Chiang, Shin-Hwan, 1990. "Sharing the Cost of Investment in General Training," Australian Economic Papers, Wiley Blackwell, vol. 29(55), pages 266-272, December.
  • Handle: RePEc:bla:ausecp:v:29:y:1990:i:55:p:266-72
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    References listed on IDEAS

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    1. H.F. Campbell & R.K. Lindner, 1982. "Effect of the Resource Rent Tax on Mineral Exploration," School of Economics Working Papers 1982-06, University of Adelaide, School of Economics.
    2. Harry F. Campbell, 1980. "The Effect of Capital Intensity on the Optimal Rate of Extraction of a Mineral Deposit," Canadian Journal of Economics, Canadian Economics Association, vol. 13(2), pages 349-356, May.
    3. Hyde, Robert & Markusen, James R, 1982. "Exploration Versus Extraction Costs as Determinants of Optimal Mineral-Rights Leases," The Economic Record, The Economic Society of Australia, vol. 58(162), pages 224-234, September.
    4. Richard Dowell, 1978. "Resources Rent Taxation," Australian Journal of Management, Australian School of Business, vol. 3(2), pages 127-146, October.
    5. Hayne E. Leland, 1978. "Optimal Risk Sharing and the Leasing of Natural Resources, with Application to Oil and Gas Leasing on the OCS," The Quarterly Journal of Economics, Oxford University Press, vol. 92(3), pages 413-437.
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    Cited by:

    1. Anke S. Kessler & Christoph Lülfesmann, 2006. "The Theory of Human Capital Revisited: on the Interaction of General and Specific Investments," Economic Journal, Royal Economic Society, vol. 116(514), pages 903-923, October.
    2. Alexandre Léné, 2005. "Détournements de main-d'œuvre et externalités de la formation dans un modèle de concurrence imparfaite," Post-Print halshs-00150687, HAL.
    3. Ericson, Thomas, 2004. "The effects of wage compression on training: Swedish empirical evidence," Working Paper Series 2004:15, IFAU - Institute for Evaluation of Labour Market and Education Policy.
    4. Ericson, Thomas, 2004. "Personnel training: a theoretical and empirical review," Working Paper Series 2005:1, IFAU - Institute for Evaluation of Labour Market and Education Policy.

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