7 ms·

"I show that fi…rms bid excessively for the pool of incumbent workers... " Not true.

• mathattack 15y ago
  Not true in that he doesn't show it, or that this doesn't happen in reality? I see the latter happening with specialists - firms will overpay to get a much needed specialist. I have seen instances where "key resources" get bid up internally until they make more than they could elsewhere. I only have 4 data points though - not enough to make a broad generalization.