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Learning and Experience in the Labor Market
The Journal of Human Resources
Vol. 7, No. 3 (Summer, 1972), pp. 326-342
Published by: University of Wisconsin Press
Stable URL: http://www.jstor.org/stable/145087
Page Count: 17
You can always find the topics here!Topics: Learning, Market prices, Financial investments, Prices, Labor markets, Employment discrimination, Supply, Net income, Educational activities, Marginal costs
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This paper models the role of the labor market in the transmission and acquisition of skills and knowledge, based on the hypothesis that indivduals learn from their working experiences. The problem is cast in terms of an implicit market for learning opportunities that is dual to the market for jobs. Optimum choices in this setting have implications for the evolution of earnings and occupational patterns over the workers' lifetimes and provide the basis for a theory of occupational mobility. Several implications of the model, including those for occupational discrimination against minorities, are also discussed.
The Journal of Human Resources © 1972 Board of Regents of the University of Wisconsin System