Human Capital Externalities with Monopsonistic Competition
11 Pages Posted: 6 Oct 2008
Abstract
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.
Keywords: externalities, human capital, multiple equilibria
JEL Classification: D43, J24
Suggested Citation: Suggested Citation
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