On-the-Job-Training

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On-the-Job-Training

The analysis of how individuals obtain and are paid for their skills is fundamental to labor economics. The basic idea of human capital theory is that workers and firms invest in workers’ skills in order to increase their productivity, much as persons invest in financial or physical assets to earn income. Workers develop many skills through formal education not tied to an employer, but an impor...

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On the Job Training

We propose a new framework for building and evaluating machine learning algorithms. We argue that many real-world problems require an agent which must quickly learn to respond to demands, yet can continue to perform and respond to new training throughout its useful life. We give a framework for how such agents can be built, describe several metrics for evaluating them, and show that subtle chan...

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Minimum Wages and On-the-job Training

Becker’s theory of human capital predicts that minimum wages should reduce training investments for affected workers because they prevent these workers from taking wage cuts necessary to finance training. In contrast, in noncompetitive labor markets, minimum wages tend to increase training of affected workers because they induce firms to train their unskilled employees. We provide new estimates...

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On-the-job Training: Investment or Compensation?

I analyze the rm's decision of how much general but informal training to provide in the presence of on-the-job search. In particular, due to lack of formal measure and commitment technology on the training intensity, I assume that rms exibly adjust their training intensity at any time, but hardly charge the cost of training to their workers. Even without any contractual agreement on training, r...

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ژورنال

عنوان ژورنال: Foundations and Trends® in Microeconomics

سال: 2006

ISSN: 1547-9846,1547-9854

DOI: 10.1561/0700000008