A note on wage differentials, fixed-wages and adverse selection

Using a substitution property of worker’s types (productivity and time preference), we propose an explanation for both fixed-wages and wage differentials. Fixed-wages result in bunching at the optimum. Equally productive workers with different time preference accept different wages.

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Year of publication:	2002
Authors:	Carlier, Guillaume ; Gaumont, Damien
Institutions:	Université Paris-Dauphine (Paris IX)
Subject:	Wage differentials \| Fixed-wages \| Labor contracts \| Adverse selection \| Heterogeneous time preference

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Extent:	application/pdf
Series:	Economics Papers from University Paris Dauphine.
Type of publication:	Book / Working Paper
Notes:	Published in Economics Letters, 2002, Vol. 77, no. 3. pp. 349-356.Length: 7 pages
Classification:	D82 - Asymmetric and Private Information ; J31 - Wage Level and Structure; Wage Differentials by Skill, Training, Occupation, etc
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010708772