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It has been claimed that the market fosters selfishness and thereby undermines the moral basis of society. This thesis has been developed with an emphasis on market exchange. Everyday life is, however, predominantly shaped by interactions in the workplace rather than by shopping behaviour. This...
Persistent link: https://www.econbiz.de/10011415214
with reflections on the future of relational contract theory and practice. …
Persistent link: https://www.econbiz.de/10013500553
We develop a simple theoretical model showing that, by adding to the adjustment costs associated with permanent contracts, local social pressure against dismissals creates an incentive for CEOs to rely on fixed-term contracts, in an attempt to escape social pressure. Using linked...
Persistent link: https://www.econbiz.de/10012415958
Persistent link: https://www.econbiz.de/10001830020
When unemployment prevails, relations with a particular firm are valuable for workers. As a consequence, a worker may adhere to an implicit agreement to provide high effort, even when performance is not third-party enforceable. But can implicit agreements - or relational contracts - also...
Persistent link: https://www.econbiz.de/10003656931
Immigrant workers and their labor force participation in host countries have received critical attention in all concerned disciplines, principally owing to its strong implications for well-being of natives. The ageing population in many rich countries and several related and unrelated issues...
Persistent link: https://www.econbiz.de/10009230711
This article is an idiosyncratic survey of the insider-outsider theory, describing the vision underlying the theory … been dead-ends and red herrings in past research. The first section deals with the theory, concerning how labor turnover … shocks. The second section deals with the insider-outsider theory in relation to two important economic institutions: unions …
Persistent link: https://www.econbiz.de/10011412195
Becker's theory of human capital predicts that minimum wages should reduce training investments for affected workers …
Persistent link: https://www.econbiz.de/10011404043
Employment protection systems are known to generate significant distortions in firms' hiring and firing decisions. We know much less about the impact of these regulations on worker effort. The goal of this paper is to fill in this gap and in particular to assess whether the provision of...
Persistent link: https://www.econbiz.de/10011404047
Given asymmetric information, this paper explores the need for non-tenure-track jobs in academia alongside the usual tenure-track positions. It also explains the coexistence of these two types of jobs in research universities as an equilibrium phenomenon. The increased effort needed to produce...
Persistent link: https://www.econbiz.de/10011820216