Oligopsony and Monopsonistic Competition in Labor Markets

Alan Manning and Ted To
Authors registered in the RePEc Author Service: V Bhaskar

Journal of Economic Perspectives, 2002, vol. 16, issue 2, 155-174

Abstract: We argue that models of oligopsony or monopsonistic competition provide insights and explanation for many empirical phenomena in labor markets. Using a simple model with job differentiation and preference heterogeneity, we illustrate how such models can be employed to explain the existence of wage dispersion, the persistence of labor market discrimination, market failures in the provision of training and the anomalous employment effects of minimum wages.

Date: 2002
Note: DOI: 10.1257/0895330027300
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Citations: View citations in EconPapers (225)

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