Studies of Labor Market Intermediation: Introduction

Edited by David H. Autor

in Studies of Labor Market Intermediation

Published by University of Chicago Press

Published in print December 2009 | ISBN: 9780226032887
Published online February 2013 | e-ISBN: 9780226032900 | DOI:
Studies of Labor Market Intermediation: Introduction

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The labor market depicted by undergraduate textbooks is a pure spot market, characterized by complete information and atomistic price taking. Labor Market Intermediaries (LMIs) are entities or institutions that interpose themselves between workers and firms to facilitate, inform, or regulate how workers are matched to firms, how work is accomplished, and how conflicts are resolved. Labor market information is not usually complete or symmetric, workers are not typically commodities, firms are not always price takers, and in general, there may be scope for third parties—LMIs, in particular—to intercede both to improve the operation of the labor market and to profit from its imperfections. Despite widely heralded advances in the technology of job matching, LMIs will continue to arise to address, ameliorate, and exploit the imperfect environment in which workers and employers interact.

Keywords: labor market; labor market intermediaries; LMI; job matching; firms; commodities; job matching

Chapter.  10111 words. 

Subjects: Econometrics and Mathematical Economics

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