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Skills Training: Public Policy Aspects

Nelson, Moira LU (2015) In International Encyclopedia of the Social & Behavioral Sciences (Second Edition) 22. p.20-24
Abstract
This article describes factors influencing investments in skills training as well as related outcomes in terms of participation rates and benefits on an individual and societal level. Market mechanisms largely drive human capital investments. According to this logic, workers and employers conduct a cost–benefit analysis, weighing expected payoffs against expected costs and investing accordingly. At the same time, market failures and collective action problems may occur in the provision of training. Various policies and institutions have been shown to resolve such problems and boost training. Whereas participation rates vary widely by firm characteristics, high rates of participation help countries specialize in high-quality production and... (More)
This article describes factors influencing investments in skills training as well as related outcomes in terms of participation rates and benefits on an individual and societal level. Market mechanisms largely drive human capital investments. According to this logic, workers and employers conduct a cost–benefit analysis, weighing expected payoffs against expected costs and investing accordingly. At the same time, market failures and collective action problems may occur in the provision of training. Various policies and institutions have been shown to resolve such problems and boost training. Whereas participation rates vary widely by firm characteristics, high rates of participation help countries specialize in high-quality production and achieve high job satisfaction. (Less)
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author
organization
publishing date
type
Chapter in Book/Report/Conference proceeding
publication status
published
subject
in
International Encyclopedia of the Social & Behavioral Sciences (Second Edition)
editor
Wright, James D. and
volume
22
pages
5 pages
publisher
Elsevier
external identifiers
  • scopus:85043435223
DOI
10.1016/B978-0-08-097086-8.75010-0
language
English
LU publication?
yes
id
200eeac8-fa59-4cb7-a550-c18a2a685550 (old id 5277400)
date added to LUP
2015-04-24 10:55:29
date last changed
2018-03-25 04:22:53
@inbook{200eeac8-fa59-4cb7-a550-c18a2a685550,
  abstract     = {This article describes factors influencing investments in skills training as well as related outcomes in terms of participation rates and benefits on an individual and societal level. Market mechanisms largely drive human capital investments. According to this logic, workers and employers conduct a cost–benefit analysis, weighing expected payoffs against expected costs and investing accordingly. At the same time, market failures and collective action problems may occur in the provision of training. Various policies and institutions have been shown to resolve such problems and boost training. Whereas participation rates vary widely by firm characteristics, high rates of participation help countries specialize in high-quality production and achieve high job satisfaction.},
  author       = {Nelson, Moira},
  editor       = {Wright, James D.},
  language     = {eng},
  pages        = {20--24},
  publisher    = {Elsevier},
  series       = {International Encyclopedia of the Social & Behavioral Sciences (Second Edition)},
  title        = {Skills Training: Public Policy Aspects},
  url          = {http://dx.doi.org/10.1016/B978-0-08-097086-8.75010-0},
  volume       = {22},
  year         = {2015},
}