Acemoglu, Daron; Pischke, Jörn-Steffen - In: The Quarterly Journal of Economics 113 (1998) 1, pp. 78-118
This paper offers a theory of training whereby workers do not pay for the general training they receive. The superior information of the current employer regarding its employees' abilities relative to other firms creates ex post monopsony power, and encourages this employer to provide and pay...