Schlicht, Ekkehart - In: Economics: The Open-Access, Open-Assessment E-Journal 4 (2010) 2010-6, pp. 1-30
Applicants for any given job are more or less suited to fill it, and the firm will select the best among them. Increasing the wage offer attracts more applicants and makes it possible to raise the hiring standard, thereby improving the productivity of the staff. Wages that optimize on the...