Replacing general with specific training: Why restricting alternatives makes sense

摘要: This paper summarizes additional evidence indicating that much on-the-job training appears to be "specific" in workers do not pay for such the form of lower starting wages. The then considers reasons why and firms might limit portability training. One rationale emerges context a principal-agent model with firm moral hazard. A second financially-constrained workers. Our findings individuals higher education more experience receive proportion is general consistent either hazard or worker predictions concerning optimal choice specific.