The use of a capital good to a narrow purpose. Asset specificity applies to capital designed to have a single function, or labor trained to perform a single task, and has its limited uses because of some inherent restriction on other possible uses.
To view a list of resources available on the SIG website on this topic, click here.
The use of a capital good to a narrow purpose. Asset specificity applies to capital designed to have a single function, or labor trained to perform a single task, and has its limited uses because of some inherent restriction on other possible uses.
To view a list of resources available on the SIG website on this topic, click here.