Frontmatter -- Contents -- Publisher's Note -- Introduction: Markets and Diversity -- PART I. The Value of Diversity -- PART II. The Division of Labor and Human Capital -- PART III. Diversity and the Distribution of Income -- Author Index -- Subject Index

The chapter presents a discussion on the theory of equalizing differences. The theory of equalizing differences refers to observed wage differentials required to equalize the total monetary and nonmonetary advantages or disadvantages among work activities and among workers themselves. On the...

Intro -- Contents -- Publisher's Note -- Introduction: Markets and Diversity -- Part I: The Value of Diversity -- 1. Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition -- 2. Discrimination in the Market for Public School Teachers -- 3. The Value of Saving a Life:...