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The economics of credence goods: on the role of liability, verifiability, reputation and competition

Dulleck, Uwe; Kerschbamer, Rudolf; Sutter, Matthias - 2009

determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation … higher efficiency as long as liability is violated. …

Persistent link: https://www.econbiz.de/10010271236

Firm-Specific Human Capital: A Skill-Weights Approach

Lazear, Edward P. - 2003

One problem with the theory of firm-specific human capital is that it is difficult to generate convincing examples of …

Persistent link: https://www.econbiz.de/10010261549

Mincer's Overtaking Point and the Lifecycle Earnings Distribution

Polachek, Solomon W. - 2003

In 1958 Jacob Mincer pioneered an important approach to understand earnings distribution. In the years since Mincer?s seminal work, he as well as his students and colleagues extended the original human capital model, reaching important conclusions about a whole array of observations pertaining...

Persistent link: https://www.econbiz.de/10010261587

Migration and Diversity : Human versus Social Capital

Manole, Vlad; Schiff, Maurice - 2004

This paper examines the welfare implications associated with different degrees of diversity or similarity between migrants and natives under both migration and trade. We use a general equilibrium model of migration, human capital and social capital and find that there are three equilibrium...

Persistent link: https://www.econbiz.de/10010262028

Are Immigrants Favorably Self-Selected? An Economic Analysis

Chiswick, Barry R. - 2000

This paper explores the theoretical issues and the empirical literature regarding the selectivity of migrants. Although the primary focus is on international migration, reference is made to internal migration and return migration. The theoretical analysis indicates a tendency toward the...

Persistent link: https://www.econbiz.de/10010262350

Why Do Firms Pay an Overtime Premium?

Hart, Robert A.; Ma, Yue - 2000

We develop a rationale for the payment by firms of a wage premium on marginal, or overtime, weekly hours. We examine wage-hours contracts within the framework of a two-period specific human capital model with asymmetric information. The wage premium serves to achieve contract efficiency. For...

Persistent link: https://www.econbiz.de/10010262371

The Economics of Human Cloning

Saint-Paul, Gilles - 2000

In this paper, we analyze the extent to which market forces create an incentive for cloning human beings. We show that a market for cloning arises if a large enough fraction of the clone?s income can be appropriated by its model. Only people with the highest ability are cloned, while people at...

Persistent link: https://www.econbiz.de/10010262438

Human Capital Spill-Overs Within the Workplace

Battu, Harminder; Belfield, Clive R.; Sloane, Peter J. - 2001

An individual?s human capital has a strong influence on earnings. Yet individual, worker-level estimations of earnings rarely include the characteristics of co-workers or detailed firm-level controls. In this paper, we use a unique matched worker?workplace dataset to estimate the effect on own...

Persistent link: https://www.econbiz.de/10010262605

Economic Aspects of Human Cloning and Reprogenetics

Saint-Paul, Gilles - 2002

This paper analyses the economic issues associated with human cloning and new reproductive technologies. We analyze the incentives for human cloning and its implications for the long run distribution of skills and income. We analyse models of human cloning for different motives, focusing on...

Persistent link: https://www.econbiz.de/10010262617

Optimal accumulation in an endogenous growth setting with human capital

Docquier, Frédéric; Paddison, Oliver; Pestieau, Pierre - 2006

This paper considers a three-overlapping-generations model of endogenous growth wherein human capital is the engine of growth. It first contrasts the laissez-faire and the optimal solutions. Three possible accumulation regimes are distinguished. Then it discusses a standard set of tax-transfer...

Persistent link: https://www.econbiz.de/10010267402