A major criticism of the information processing hierarchy model of management structure pioneered by Radner and Van Zandt is that it is unrealistic in its description of labor. This paper shows how the existing model can be extende to use labor hours instead of just the number of people...

This paper provides a complete characterization of utility functions that are consistent with similarity relations considered in Rubinstein (1988).

Efficiency wage considerations should be less important for piece-rate pay relative to time wages. Therefore, if industry wage differentials reflect efficiency wage factors, then these pay differences should be less sizable and have less explanatory power for piecework than for timework. We test...

This paper is organized as follows. Section 1 is an introduction. section we review the existing research on (sequential) pooled auctions. section 3m formalized our model of simultaneous ooled suctions while in the section 4 we derive the equilibrium bidding strategies. Section 5 contains the...