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Job Differentiation and Wages

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  • Nancy L. Stokey

Abstract

The determination of wage rates and skill requirements for jobs is studied in a model where workers, who vary in ability, acquire skill through (costly) training. If firms' skill requirements are fixed, there exists a unique Nash equilibrium in wage rates, but the resulting allocation of labor is inefficient. The Nash equilibrium wage rates and allocation of labor approach the competitive equilibrium if and only if the number of job types increases on every skill range and no firm remains a monopsonist on any skill range. If firms choose both skill requirements and wage rates, no Nash equilibrium in pure strategies exists.

Suggested Citation

  • Nancy L. Stokey, 1980. "Job Differentiation and Wages," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 95(3), pages 431-449.
    • Handle: RePEc:oup:qjecon:v:95:y:1980:i:3:p:431-449.
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    File URL: http://hdl.handle.net/10.2307/1885087
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    Cited by:

    1. Udo Schmidt-Mohr & J. Villas-Boas, 2008. "Competitive product lines with quality constraints," Quantitative Marketing and Economics (QME), Springer, vol. 6(1), pages 1-16, March.
    2. Jacques-François Thisse & Yves Zenou, 1995. "Appariement et concurrence spatiale sur le marché du travail," Revue Économique, Programme National Persée, vol. 46(3), pages 615-624.
    3. Yves Zenou, 1996. "Marché du travail et économie urbaine. Essai d'intégration," Revue Économique, Programme National Persée, vol. 47(2), pages 263-288.
    4. Yuxin Chen & Ganesh Iyer, 2002. "Research Note Consumer Addressability and Customized Pricing," Marketing Science, INFORMS, vol. 21(2), pages 197-208, November.
    5. Zhang, Zhongju & Dey, Debabrata & Tan, Yong, 2008. "Price and QoS competition in data communication services," European Journal of Operational Research, Elsevier, vol. 187(3), pages 871-886, June.

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