The American Economic Review, Volume 96American Economic Association., 2006 |
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Página 833
... marginal return and the marginal cost of an additional unit of investment are both quite insensitive to the level of investment at any point in time . The argu- ments behind this go as follows . The marginal return to investment is the ...
... marginal return and the marginal cost of an additional unit of investment are both quite insensitive to the level of investment at any point in time . The argu- ments behind this go as follows . The marginal return to investment is the ...
Página 836
... marginal cost ( MC ) , and the right - hand side is the marginal revenue ( MR ) of adding a unit of investment to the capital stock of the s - year - old worker . Then , using the following envelope condition , w's ( hs ) = 1 + 1 1 + r ...
... marginal cost ( MC ) , and the right - hand side is the marginal revenue ( MR ) of adding a unit of investment to the capital stock of the s - year - old worker . Then , using the following envelope condition , w's ( hs ) = 1 + 1 1 + r ...
Página 839
... marginal revenue from OJT investment over the life cycle . The marginal revenue declines over time , but it declines more slowly early in life due to the length of the worker's remaining lifetime . As the worker gets older , the decline ...
... marginal revenue from OJT investment over the life cycle . The marginal revenue declines over time , but it declines more slowly early in life due to the length of the worker's remaining lifetime . As the worker gets older , the decline ...
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agent analysis assumption auction average behavior bidder bonus rate buyer certifier choice choose coefficient column concave condition consumers consumption correlation cost cotinine countries demand denote distribution earnings effect efficient effort levels endogenous enrollment equation equilibrium estimates exchange rate expected Figure firm gamble GATT growth higher human capital impact implies incarceration income increase incumbent individual investment Jobs Journal of Economics Lemma March CPS marginal marginal cost match May/ORG measure ment mixed strategy monthly contract Nash equilibrium nomic observed optimal order flow outcomes p-value paper parameter payoff percent period players predictions preferences price vector profits Proposition quantiles regression relative supply residual residual variance risk aversion rounds sample Section skills smoking standard strategy subsidy Table tariff Theorem tion topcode users utility functions variables variance wage inequality Walrasian equilibrium welfare workers zero