Training and Effort Dynamics in Apprenticeship
研究资金受限的学徒在可随时退出的情况下，雇主如何通过低工资和超负荷工作来换取培训，并分析监管对学徒期长度和努力上限的影响。
A principal specifies time paths of effort provision, task allocation, and knowledge transfer for a cash-constrained apprentice, who is free to walk away at any time. In the optimal contract the apprentice pays for training by working for low or no wages and by working inefficiently hard. The apprentice can work on both knowledge-complementary and knowledge-independent tasks. We study the optimal time path of effort distortions and their impact on the knowledge transfer, and analyze the effect of regulatory limits on the length of apprenticeships and on how much effort apprentices are allowed to provide.