Construct · 1 fields · 1 citations

monopsony: a standalone construct

One name. One construct. A landmark on the map.

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Labor economics

employers' power to pay wages below the marginal product of labor because workers cannot costlessly switch employers.

In labor economics, monopsony refers to employers' power to pay wages below the marginal product of labor because workers cannot costlessly switch employers. This meaning comes from Manning (2020) in ILR Review.[1]

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Nearby constructs

labor4 fields · 4 citationsjingle · one word, four constructs marginal3 fields · 3 citationsjingle · one word, three constructs power6 fields · 13 citationsjingle · one name, six constructs

References

Manning, A. (2020). Monopsony in Labor Markets: A Review. ILR Review, 74(1), 3-26. https://doi.org/10.1177/0019793920922499

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