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Efficiency wage effects of profit sharing are combined with option values related to stochastic future profit …
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Efficiency wage effects of profit sharing are combined with option values related to stochastic future pofit variations …
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This paper provides a model that can account for the almost uniform staggering of wage contracts in some countries as well as for the markedly nonuniform staggering in others. In the model, short and long contracts as well as long contracts concluded in different periods are strategic...
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