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Human Capital Externalities with Monopsonistic Competition

IZA Discussion Paper No. 3729

11 Pages Posted: 6 Oct 2008 Last revised: 8 May 2025

See all articles by Leo Kaas

Leo Kaas

Goethe University Frankfurt; IZA Institute of Labor Economics; CESifo (Center for Economic Studies and Ifo Institute)

Abstract

This paper provides a novel microeconomic foundation for pecuniary human capital externalities in a labor market model of monopsonistic competition. Multiple equilibria arise because of a strategic complementarity in investment decisions.

Keywords: multiple equilibria, human capital, externalities

JEL Classification: D43, J24

Suggested Citation

Kaas, Leo, Human Capital Externalities with Monopsonistic Competition. IZA Discussion Paper No. 3729, Available at SSRN: https://ssrn.com/abstract=1278930

Leo Kaas (Contact Author)

Goethe University Frankfurt ( email )

House of Finance
Theodor-W.-Adorno-Platz 3
Frankfurt, Hesse 60629
Germany

IZA Institute of Labor Economics ( email )

P.O. Box 7240
Bonn, D-53072
Germany

CESifo (Center for Economic Studies and Ifo Institute) ( email )

Poschinger Str. 5
Munich, DE-81679
Germany

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