People turn out to cast their votes simply because they want to "cheer" or "boo" their favored or unfavored candidates. This expressive voting behavior is in marked contrast to the instrumental voting behavior, i.e., people vote because they perceive voting as a means of achieving a particular...

A key feature of monopsony is that a single firm pays its workers a wage ( w) less than the marginal revenue product (MRP ). Ever since its creation by Joan Robinson (1933), this feature has been explained as a symbol of the monopsonistic firm exploiting its workers. By using a simple standard...

The employment relationship is to a large extent characterized by incomplete contracts, in which workers have a considerable degree of discretion over the choice of their work effort. This discretion at work kicks in the potential importance of “gift exchange” or reciprocity between workers...