Unrecorded Human Assets and the "Hold Up" Problem
指出Dittman等人关于特定培训成本是未记录人力资产价值上限的结论存在遗漏，实际上该上限比他们声称的更低。
Human resource accountants claim that financial statements understate firms' assets by failing to recognize the value of human assets. In a recent paper in this Journal, Dittman, Juris, and Revsine (DJR) [1976] employed a model developed by Becker [1964; 1975] to show that the total costs of specific training constitute an upper bound on the value of unrecorded human assets to employers. The purpose of this note is to point out an omission in DJR's analysis' which suggests that this theoretical upper bound is even lower than DJR claimed.2 In Becker's model, employee training is partitioned into general training and training which is completely firm specific. By definition, general training increases the worker's posttraining marginal productivity to current and alternative employers by equal amounts. In a competitive labor market, workers compensate employers for general training by accepting a lower (than current marginal product) wage during the training period. Specific training,3 by definition, increases the wo'rker's