Booth, Alison L.; Francesconi, Marco; Zoega, Gylfi - Institute for the Study of Labor (IZA) - 2002
In oligopsonistic labour markets, firms have some market power, and a wedge is created between wages and marginal … of the returns to general training and be willing to pay for it despite its general nature. However this outcome is not … efficient, in the sense that too few workers are trained and workers who are hired receive too little training. We consider how …