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Insiders versus Outsiders

Journal of Economic Perspectives, no. 1 (2001): 165-188

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This article surveys the insider-outsider theory, which analyzes the behavior of economic agents in markets were some participants have more privileged positions than others. Incumbent workers (insiders) in the labor market enjoy more favorable employment opportunities than others (outsiders), on account of labor turnover costs (e.g. cost...更多

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