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Market Failure in Training? - New Economic Analysis and Evidence on Training of Adult Employees (Paperback, Softcover reprint of the original 1st ed. 1991)
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Market Failure in Training? - New Economic Analysis and Evidence on Training of Adult Employees (Paperback, Softcover reprint of the original 1st ed. 1991)
Series: Studies in Contemporary Economics
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This book deals with on-the-job training (OJT) of employees. Given
fast-changing technology and an aging labor force, many
industrialized countries must consider whether a sufficient amount
of investment is being undertaken. The papers in this volume offer
new evidence on the amount of OJT that occurs, and a re-examination
of standard economic theory. One key assumption in former research
was that employees themselves would absorb the cost of "general"
training, i.e., OJT that produces portable skills or knowledge.
However, that assumption remained empirically untested. New surveys
that have measured OJT directly now permit testing of this
assumption. Results, as reported in several chapters of this book,
fail to confirm this assumption. It appears that employers are not
able, in fact, to "sell" OJT to employees. Markets therefore do not
provide enough OJT. Even if employees do absorb some of thecost of
their own training, they may not buy enough of it, because the risk
associated with such investment cannot be hedged or insured. New
proposals are presented to address this problem. Learning in
workplaces includes solving problems and improving the productive
process. Some chapters in this book describe the features of
organizations where such learning occurs. Externalities associated
with certain of these features, in particular employment security,
may also give rise tomarket failure.
General
Imprint: |
Springer-Verlag
|
Country of origin: |
Germany |
Series: |
Studies in Contemporary Economics |
Release date: |
December 1991 |
First published: |
1991 |
Editors: |
David Stern
• Jozef M.M. Ritzen
|
Dimensions: |
242 x 170 x 13mm (L x W x T) |
Format: |
Paperback
|
Pages: |
233 |
Edition: |
Softcover reprint of the original 1st ed. 1991 |
ISBN-13: |
978-3-540-54622-1 |
Categories: |
Books >
Business & Economics >
Economics >
Labour economics >
General
|
LSN: |
3-540-54622-7 |
Barcode: |
9783540546221 |
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