Prediction markets are online trading platforms where contracts on future events are traded with payoffs being exclusively linked to event occurrence. Scientific research has shown that market prices of such contracts imply high forecasting accuracy through effective information aggregation of...

The fact that minimum wages seem specially binding for young workers has led some countries to adopt age-differentiated minimum wages. We develop a dynamic two sector labor market model where workers with heterogeneous endowments of natural skills gain productivity through experience. We compare...