modern compensation theory, but has not been extended to organization theory. The perspective sheds new light on several … topics in the theory of the firm, like the boundaries of the firm, the importance of fairness concerns within firms, the … attenuation of incentives, or the role of routines and incentives. It implies a perceptional theory of the firm that is realistic …

leaves a financing gap that needs to be estimated and financed, best outside the pension system if a less distorting … financing form is available. The paper illustrates the proposed measurement approach with broad estimates under a hypothetical …

wages in a non-binding contract setting. Our main result is the equivalence between the non-binding collective equilibrium … wage-employment contract and the equilibrium contract under binding risk-neutral efficient bargaining. We also demonstrate …