CORDIS Project
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This project investigates the role of monopsony power in labor markets and its contribution to income inequality. It aims to understand how monopsony affects wages, employment, and worker decision-making across different socio-economic groups.
What is the role played by monopsony (monopoly power in the demand for labor) in widening earning inequalities?
Recent studies documented the pervasiveness of monopsony power in modern labor markets.
Monopsonistic employers can cut wages without losing workers to competitors, pay labor below its productivity and hire fewer workers than in a competitive labor market.
The equilibrium is inefficient as the surplus given by market power is lower than the surplus extracted from workers who are also e…
UNIVERSITA COMMERCIALE LUIGI BOCCONI
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