Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/122063 
Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
Working Paper No. 740
Verlag: 
Queen Mary University of London, School of Economics and Finance, London
Zusammenfassung: 
We develop a model in which competition in the labor market may produce worker-firm matches that are inferior to those obtained in the absence of competition. This result contrasts with the conventional wisdom that competition among employers allocates scarce talent efficiently. In a model in which employers asymmetrically learn about the ability of their workers, we show that constraining labor market competition may be socially desirable precisely because it leads to better talent allocation. The model provides a cautionary counterpoint to one of the most popular arguments against the regulation of pay, i.e., the argument that price-distorting regulation leads to inefficient matches of workers and firms.
Schlagwörter: 
Labor markets
Asymmetric employer learning
Misallocation
Adverse selection
JEL: 
D82
J31
M5
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
619.86 kB





Publikationen in EconStor sind urheberrechtlich geschützt.