I bet you’re right that people in idiosyncratic jobs are underpaid. The fact of being in a job that is crafted just for you gives your employer some power since (here comes the Econ take) no other employer has the same information about your idiosyncratic skills, raising your switching costs. It gives you some power too but my guess is that the relationship is asymmetric and the cost to you of switching jobs is more significant than the cost to the employer of losing you. But I could be wrong, and it would vary by person and skillset.
Yes exactly! I am working my way with these posts to a discussion of dynamic monopsony (information and other frictions), job quality (which job crafters likely score higher on all else equal), and then returning to firm and occupational internal labor markets and why we need better operationalization of these market dynamics than we get from a standard human capital model.
I bet you’re right that people in idiosyncratic jobs are underpaid. The fact of being in a job that is crafted just for you gives your employer some power since (here comes the Econ take) no other employer has the same information about your idiosyncratic skills, raising your switching costs. It gives you some power too but my guess is that the relationship is asymmetric and the cost to you of switching jobs is more significant than the cost to the employer of losing you. But I could be wrong, and it would vary by person and skillset.
Yes exactly! I am working my way with these posts to a discussion of dynamic monopsony (information and other frictions), job quality (which job crafters likely score higher on all else equal), and then returning to firm and occupational internal labor markets and why we need better operationalization of these market dynamics than we get from a standard human capital model.