Human capital externalities with monopsonistic competition
This paper provides a novel microeconomic foundation for pecuniary human capital externalities in a labor market model of monopsonistic competition. Multiple equilibria arise because of a strategic complementarity in investment decisions.
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- V. Bhaskar & Ted To, 1996.
"Minimum Wages for Ronald McDonald Monopsonies: A Theory of Monopsonistic Competition,"
Labor and Demography
9603001, EconWPA, revised 21 May 1996.
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- Kaas, Leo & Madden, Paul, 2006.
"Holdup in Oligopsonistic Labour Markets: A New Role for the Minimum Wage,"
IZA Discussion Papers
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