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This paper studies a monopsonistic firm's optimal employment contracts if workers have private information on both their propensity for social comparisons and their ability. Employees of the firm are taken to form their own distinct reference group. It is shown that screening workers with equal...
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This paper offers a contract-based theory to explain the determination of standard hours, overtime hours and overtime … closely to earlier developments in hedonic wage theory. Throughout, we emphasise the intuitive reasoning behind the theory and …
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What happens if A wants to buy a good or service from B, but not all relevant characteristics can be fixed in a contract? This book gives a non-technical overview of various models dealing with this situation. Particular emphasis is put on the problem that the service includes various tasks and...
Persistent link: https://www.econbiz.de/10001880273
What happens if A wants to buy a good or service from B, but not all relevant characteristics can be fixed in a contract? This book gives a non-technical overview of various models dealing with this situation. Particular emphasis is put on the problem that the service includes various tasks and...
Persistent link: https://www.econbiz.de/10013519359
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