Abstract
This research examines the theories presented in the human capital literature by Becker (1975), Lazear (1979, 1981), and others that the relative paths of earnings and value of marginal product (henceforth, VMP) diverge over the worklife. The findings support Lazear's work incentive theory for professionals, but reject its application to non-professionals. As predicted by orthodox human capital theory, documentation is also developed that earnings for non-professionals equal their VMP over the job life-cycle. On the other hand, the analysis provides no support to Becker's specific training model.
Full Text 
Sign-in/Register to access full text options
Sign-in/Register to access full text options 
Published version (
Free)
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
