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| Author: | Shapiro, C. |
| Title: | Investment, moral hazard, and occupational licensing. |
| Journal: | Review of Economic Studies
1986 : OCT, VOL. 53:176, p. 843-862 |
| Index terms: | OCCUPATIONS LICENSING INFORMATION ECONOMICS |
| Language: | eng |
| Abstract: | The occupational licensing is analyzed as an input regulation that requires minimum levels of human capital investment by professionals. By raising professionals' training levels,licensing helps alleviate moral hazard problems associated with the provision of high quality services. Certification, whereby consumers are provided information about professionals' training levels is also considered. Licensing and certification tend to benefit consumers who value quality highly at the expense of those who do not. |
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