A Quality-adjusted specification of labor is suggested which allow firms training to effect labor efficiency. To assess the cost and productivity effects, this specification is integrated into a flexible neoclassical cost function.

Unlike previous analyses, we consider (i) that IT may affect productivity growth both directly and indirectly, through human capital interactions, and (ii) possible externalities in the use of IT. Examining, hypothetically, the statistical consequences of erroneously disregarding (i) and (ii) we...

A model of occupational choice and human capital investment is developed and tested. The model allows family background to influence occupational choice via access to economic resources, differences in costs of schooling, and ability uncertainty. The model predicts that people are more sensitive...

Attention is called to a little explored scarce resource, named 'economic competence', which combines features of human capital and bounded rationality, and can be defined as the non-transferable abilities of economic agents to employ transferable information for deciding about the use of scarce...

The recent 'scientification' of commercial technology has brought the interface between universities and industry into sharp focus. In particular, academic entrepreneurship, i.e., the variety of ways in which academics take direct part in the commercialization of research, is widely discussed....

It is extraordinarily difficult to determine the extent to which the gender wage gap reflects discriminatory behaviors by employers or differences in productive capacities between men and women. We note that where piece-rate work is performed, wages should in principle reflect productivity...

The paper examines the determinants of the division of labor within firms. It provides an explanation of the pervasive observed changes in work organization away from the traditional functional departments and towards multi-tasking and job rotation.