This paper uses firm level panel data of firm provided training to estimate its impact on productivity and wages. To this end the strategy proposed by Ackerberg, Caves and Frazer (2006) for estimating production functions to control for the endogeneity of input factors and training is applied....

Article about alternative interpretations of the concept of "competition" as the adaptive behavior of market participants. The author substantiates the thesis of the identity of market adaptation and market competition rather than rivalry.