We present a wage-hours contract designed to minimize costly job turnover given investments in on the job training …

This paper offers a contract-based theory to explain the determination of standard hours, overtime hours and overtime … premium pay. We expand on the wage contract literature that emphasises the role of firm-specific human capital and that … explores problems of contract efficiency in the face of information asymmetries between the firm and the worker. We first …

can select one of three agents, while in a third treatment an agent may choose between the contract menus offered by two … correspondence between the theoretical predictions and the contract menus actually chosen in each treatment. There is, however, a … tendency to choose more 'generous' (and more efficient) contract menus over time. Competition leads to a substantially higher …

compensated ex ante by a higher wage when agreeing to a long term contract. Using data from the German "Bundesliga", our model …